Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Why Your Brain Trusts a Handshake More Than a Contract
In this episode of Behavioral Economics with Fexingo, Lucas and Luna explore the behavioral principle of 'social over legal' — why people trust a verbal deal more than a written one. They dive into a 2022 study by the University of Chicago's Booth School, where participants were less likely to renege on a promise made face-to-face than one signed on paper. The hosts discuss how this plays out in real estate negotiations, freelance contracts, and even dating apps, and why our brains evolved to prioritize social bonds over legal threats. They also touch on how companies like…
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