Human Behavior & Black Friday Trends

October 18, 2017
Updated 16d ago
According to a report done by PWC, Black Friday shopping has fallen 24% in the past two years. Lisa Rowan, Writer at The Penny Hoarder, joins Your Cheddar to discuss how e-commerce is changing, not killing, the Black Friday tradition. Plus, are you a single parent who can't get your finances in order? Emma Johnson, Author of "The Kickass Single Mom" joins Your Cheddar to help navigate through the tricky topics of child support and gaining financial independence. And University of Chicago professor Richard Thaler was awarded the Nobel Prize in Economic Sciences for his research into the study of human behavior in decision-making, also known as "behavioral economics". Tobie Stanger, Senior Editor at Consumer Reports, joins Your Cheddar to explain how Thaler explored how our irrational behavior becomes predictable patterns. In learning this, he realized we can use prompts, or "nudges," to help make better financial decisions.