Bankruptcy in Close Quarters: The 3% Spending Ripple Effect

It is a known, evidence-based fact that the lifestyle choices of our peers have a strong bearing on our own. Does this hold true when it comes to bankruptcy? In this episode, Professor Sumit looks at the spending behaviours of people living in close proximity to individuals who have been declared bankrupts. Interestingly, he observed a reduction in the consumption of the neighbours of a bankrupt by 3%!