Category: Personal Finance
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Incentives and Expert Behaviour: The Consumer’s Perspective
In this blog post, we explore the incentives that experts face and their impact on the advice and guidance that they provide to consumers. The concept of information asymmetry, high-pressure sales tactics, and the importance of taking an active role in decision making are discussed in detail. Additionally, seeking out experts with a good track…
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Maximizing Personal Wealth: The Economics of Tracking Income and Expenses
Tracking your income and expenses is essential to maximizing personal wealth, and applying economic concepts can help you to achieve financial success. By following the principles of the income-expenditure identity, budget equation, marginal propensity to consume, and present value of an annuity, you can ensure that your income is being used efficiently and that you’re…