Word: consumerized
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Once we've got our card in hand, our behavior becomes riddled with irrationalities. In one experiment, Drazen Prelec and Duncan Simester of the Massachusetts Institute of Technology found that people were willing to pay twice as much for basketball tickets when they were using a credit card as opposed...
The seeming solution would be to make clear to consumers exactly how much their credit cards are costing them. In fact, over the past few decades, there has been a massive push in that direction, from the Truth in Lending Act to the "Schumer Box," which gives a one-page...
The Wall Street Journal has raised the issue of whether the Chinese consumer can replace the U.S. consumer as the most important engine of the global economy. The answer is "not yet", but if consumer spending keeps dropping in America and the appetite for consumer goods among the Chinese middle...
The trouble with the stimulus packages in the U.S. and China is that eventually the efforts of governments to prime the pump run out of money and economic activity has to stand on its own. For China and the U.S. the end of that support means very different things, but...
None of the consumer electronics companies banking on 3G to drive handset sales to pre-recession levels are going to be able to count on their carrier partners for services that will show off the best features of phones that can download and manipulate files, access the internet, and play...