ANN ARBOR — The U.S. is the richest country in the world, yet economists estimate that at least half of Americans won’t retire with enough money saved to maintain their current lifestyle. (more…)
ANN ARBOR, Mich.— Every year about this time, on Black Friday, the day after Thanksgiving that traditionally begins the holiday shopping season, early-morning consumers stand in long lines eager to purchase some sought after prize. From the outside, it looks as if these holiday shoppers can’t wait to plunk down their cash, but Ross School marketing professor Scott Rick says consumers often behave differently than they would ideally like to behave.
“Some consumers chronically spend more than they would like, and some consumers chronically spend less than they would like,” he said. “Where an individual falls within the range of desiring to spend more or less largely determines whether he or she is a tightwad or a spendthrift, characteristics that determine quite a bit about a person’s spending habits.” (more…)
