Dr. Eldar Shafir, William Stewart Tod Professor of Psychology and Public Affairs, PRINCETON UNIVERSITY, CO-AUTHOR, "SCARCITY: WHY HAVING TOO LITTLE MEANS SO MUCH"
Like any hot commodity, attention for financial decision-making is often in short supply. Consumers make daily choices while juggling busy lives, often with little room for error. Does having too little of something - like money or time - make it harder to choose wisely? Dr. Shafir studies the human mind under conditions of scarcity, when stress often leads to tunnel vision focused on today with scant room to consider tomorrow. His insights raise a critical question for financial product design and delivery: how can we streamline decision points to produce optimal results for consumers who are facing a scarcity of everything?