Objective: Alcohol use among college students is pervasive and affected by economic factors such as personal income and alcohol price. The authors examined the relationship among students’ spending money, drinking rate, and alcohol-related consequences. Participants: In 2005, the authors conducted a Web-based survey among a random sample of 3,634 undergraduate students from 2 large universities...

Current cryptocurrencies, starting with Bitcoin, build a decentralized blockchain-based transaction ledger, maintained through proofs-of-work that also serve to generate a monetary supply. Such decentralization has benefits, such as independence from national political control, but also significant limitations in terms of computational costs and scalability. We introduce RSCoin, a cryptocurrenc...

nearly 80% of young people today will never be able to retire. why? because they lack the personal finance training that leads to long-term planning and future security. connecting the dots between kids and money management skills prepares them for the financial realities the world will face over the next century. pocket money is one of the first ways for children to learn the basics of managin...

While a great deal of research has shown that people with more money are somewhat happier than people with less money, our research demonstrates that how people spend their money also matters for their happiness. In particular, both correlational and experimental studies show that people who spend money on others report greater happiness. The benefits of such prosocial spending emerge among adu...

Abstract Consumers often buy products that they later do not use. How does failing to use purchased affect subsequent spending? Six experiments demonstrate when consumers their products, it decreases discretionary spending across product categories due an aversion wasted money. We find this effect is driven primarily by perceived money waste and waste. Consequently, the persists even avoid wast...