We propose a model of 'choice overload,' which refers to a stronger tendency to select the default option in larger choice problems. Our main finding is a behavioral characterization of an asymmetric regret representation that depicts a decision maker who does not consider the possibility of...

We propose a model of "choice overload" which refers to a stronger tendency to select the default option in larger choice problems. Our main finding is a behavioral characterization of an asymmetric regret representation that depicts a decision maker who does not consider the possibility of...

We examine financial literacy in Finland and its connection with various financial outcomes using novel survey data collected in 2023. While the overall Finnish financial literacy level is about average among the OECD countries, there is significant heterogeneity within the population. Women...