Experience Stern | News & Events

Excerpt from The New York Times -- "A handful of academic researchers have studied what goes on inside our heads when credit cards are in our wallets, and even people who do not carry a balance each month are prone to overspending for a variety of reasons. ... A study in 2008, titled 'Monopoly Money,' featured a gift card denominated in dollars. Even though the gift card lost value instantly when people used it, people were still more likely to spend freely with it than they did with cash."

Read more