Communicating better to businesses who are being liquidated
Intervention · Financial Products
Intervention Description
Researchers recruited 107 students to simulate being business owners whose businesses were being liquidated; one group was then given the standard letter regarding actions they would have to take while the other group was given a letter where the necessary actions were specified in the beginning of the letter. Participants were then asked to recall details from the letter. They found that participants who received the latter letter were 12% more likely to recall the details correctly.
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