The 2017 Boulder Summer Conference on Consumer Financial Decision Making will be held May 21-23 at the St. Julien Hotel at a great time of year to visit Boulder, Colorado.
The conference will provide an opportunity for exchange of ideas among researchers in different fields working on problems of consumer financial decision-making.
Consumer welfare is strongly affected by household financial decisions large and small: choosing mortgages; saving to fund college education or retirement; using credit cards to fund current consumption; choosing how to “decumulate” savings in retirement; deciding how to pay for health care and insurance; and investing in the stock market. In all of these domains, consumers are often poorly informed and susceptible to making serious errors that have large personal and societal consequences.
Basic research in judgment and decision making, psychology, consumer research, behavioral finance, and behavioral economics can inform our understanding of how consumers actually make such decisions and how consumers can be helped to make better decisions by innovations in public policy, business, and consumer education.
The conference is co-sponsored by the Center for Research on Consumer Financial Decision Making at the University of Colorado and by the Leeds School of Business.
On Sunday afternoon, we begin with a keynote address by Alessandro Acquisti of Carnegie Mellon University on the topic of how credit scores and other information about consumers is collected and used by companies for non-lending purposes. Who reaps the benefits of such “sharing” of private information? And how do consumers modify their financial behavior in response to opaque processes that affect how they are treated? This will be followed by panel discussion on this topic, followed by a reception and poster session. Monday and Tuesday we will have 10 total plenary sessions of 75 minutes each, each with two related papers, a discussant, and plenty of time for audience questions and comments.