Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Why You Spend More When You Feel Time Pressure
This episode of Behavioral Economics with Fexingo explores time pressure as a hidden driver of spending. Lucas and Luna dive into a 2024 study by researchers at Duke and Stanford, which found that shoppers spent an average of 23% more when given a 5-minute time limit compared to no limit. They discuss the concept of 'temporal discounting' and how scarcity mindset—triggered by time constraints—leads consumers to make less deliberate decisions. The hosts also examine real-world applications, from flash sales to food delivery apps, and consider whether this manipulation is ethical. By…
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