 Hey Abby, do you know what behavioral finance is? No. What's behavioral finance is? Behavioral finance, I'm not quite sure. Maybe how different age groups behaviorally have their trends and how they would spend their money. Give me a guess. What do you think it might be? Based on the term, I would guess that would mean how people use their finances different, their money to spend on. Based on their job, family, income, or whatever they might be and how it affects their planning. Guess what you think it might be? Maybe how people's behaviors allow them to be better in finance? Behavioral finance is the study of how human beings actually make decisions, how they actually behave, as opposed to being based on abstract models that might not take into account real human decision making. A lot of research in the last 30 years in psychology has led to real insights into various factors that go into people's decisions that you might not think about. So for example, it's often the case that we're easily distracted by other things going on in our lives. Researchers might think we're super focused on the cost of our credit card, but actually we'd rather buy a pair of sunglasses. People are easily overwhelmed by mountains of information. So often it's the case that more disclosure of information doesn't necessarily lead to a deeper understanding of what's actually going on. So we're putting together this conference on behavioral finance. It's co-sponsored by the University of Michigan Center on Finance, Law, and Policy and a research and development lab called Ideas 42 that focuses on problems in behavioral economics. We're going to have discussions and interactive sessions based on things like consumer protection, how to protect retirement savings, how to deal with problems in student loan difficulties, and then issues affecting small businesses and micro-businesses in the city of Detroit and elsewhere around the country. And then we're having panels that show the effect of this new insight on ways of thinking about the stability of the financial system as a whole. I think it's going to be an exciting conference, and I hope you'll join us.