Second-guessing yourself leads to worse decisions, study finds

When facing a tough decision, it pays to trust your gut.

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  • A recent study examined the accuracy of predictions of soccer matches on a popular betting website.
  • The users were allowed to revise their bets up until the match started.
  • Surprisingly, the results revealed that the revised bets were much more likely to be incorrect.
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8 principles that will make you smarter about money

It's not the act of buying but how you spend money that improves happiness and life satisfaction.

  • To prove money can't buy happiness, people point to millionaires and lottery winners who ruined their lives.
  • Psychological studies have shown that learning how to spend your money can improve overall happiness.
  • We explore eight money-spending principles that research suggests can bolster life satisfaction.
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Gamblers predicted Brexit before traders or experts

Need to know how an election will turn out? Call your bookie.

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  • A new study finds that gamblers reacted more quickly to news on Brexit than currency traders.
  • On the night of the referendum, gamblers and odds makers figured out what would happen hours before traders, experts, and the BBC.
  • The results are bad news for the idea that markets are perfectly efficient.
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Why natural disasters make men take more risks

Looking at the 2011 earthquake in Japan, researchers found that natural disasters make men — but not women — more fond of taking risks.

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  • The 2011 earthquake in Japan was among the most intense earthquakes to occur in recorded history.
  • Thanks to regularly distributed surveys, however, it also became a unique research opportunity to compare civilians' behaviors from before the earthquake with their behavior after.
  • Now, researchers have found data that suggests being exposed to a natural disaster tends to make men more prone to engage in risky behavior, like gambling and drinking, over the long term.
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Does winning the lottery ruin your life? Not usually, study shows.

A study from May 2018 found that most lottery winners report greater life satisfaction over a long-term period.

Balbir Atwal, owner of the California 7-Eleven that sold one of the 3 Powerball winning tickets, holds up a $1 million check. (Photo by Ringo Chiu/Getty Images)
  • The study asked more than 3,000 lottery winners about their mental health, happiness and life satisfaction years after winning big cash prizes.
  • Most winners reported greater life satisfaction, but less significant changes in mental health and happiness.
  • The recent Mega Millions and Powerball jackpots could be different, however, given the sheer size of the prizes.
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