Taller workers receive a substantial wage premium. Studies extending back to the middle of the last century attribute the premium to non-cognitive abilities, which are associated with stature and rewarded in the labor market.
Compared to what they would pay themselves, most consumers overestimate what others are willing to pay for products, according to a new study in the Journal of Consumer Research. And that holds true for a large range of items, both real and imaginary.
“When consumers are reminded of money, do they conform, shrug it off, or react against others’ attempts to influence them?” ask authors Jia (Elke) Liu (University of Groningen), Dirk Smeesters (Erasmus University), and Kathleen D. Vohs (University of Minnesota).
Juntos Finanzas, a budget-by-text program started at Stanford with a group of janitorial workers, is part Mint.com, part Weight Watchers. Now it's making real changes in the lives of lower-income workers.