It’s been an historic week for the world of behavioral science: President Obama has issued an Executive Order encouraging federal agencies to apply behavioral insights in their programs, policies, and operations for the first time ever. Paving the way for this landmark declaration is the successful track record of the White House Social and Behavioral […]
We probably don’t need to tell you, savvy reader, that behavioral science is fascinating. The insights on human behavior that have come from the last few decades of research are not only profound and compelling, but can also delight. Take loss aversion. First demonstrated by Daniel Kahneman and Amos Tversky, this principle says we dislike […]
In the U.S., 44% of households are considered “liquid asset poor”, lacking savings to cover basic expenses for three months. What would it take to increase the financial resilience of these families? Could you do it with a simple 30-minute phone call? At ideas42, we think so. With funding from MetLife Foundation under its financial […]
Most car owners know that regular oil changes keep their cars running smoothly. Every few months, they visit their local dealerships, service stations or Jiffy Lubes and drive off 15 minutes later with the maintenance complete. But what if places like Jiffy Lube didn’t provide direct services? What if instead they hosted one-hour informational seminars […]
by Eldar Shafir
Like many of us, I’m lucky enough to be able to manage my daily life while devoting just a sliver of my mind to looking after my personal finances. But for lower-income American households, navigating continuously challenging financial situations takes up a significant portion of their time, attention, and cognitive resources. Since we are all […]
For many of us, saving enough for retirement remains a murky, unrealized goal. Behavioral science has already proven useful in some ways, but there are still many opportunities to apply a behavioral lens to better preparing for the future. In Mexico, not putting aside enough for retirement is a persistent problem for many people. As […]
ideas42’s network of academic affiliates represent some of the world’s foremost experts in behavioral science. In their efforts to address some of society’s toughest problems—from poverty alleviation to improving health care—these scholars have continually generated surprising and often counterintuitive scientific insights about why we make the choices we do. Their research illuminates our behavioral interventions […]
Imagine you’ve been stuck in a meeting that ran into the lunch hour and you’re hungry—really hungry. You’ll focus on your hunger, craving whatever is closest and finding it tough to stick to long-term nutritional goals like maintaining low cholesterol. A very hungry version of you will also be more easily deterred by any short-term […]
In April 2015 the UK Government will introduce big changes to the rules surrounding how people can access their pension pots. The changes are complex, but the overall effect will be to give pension holders much more flexibility to spend or invest their savings as they choose when they reach 55. With this increased freedom […]
by ideas42
The American Economic Association (AEA) wrapped up its annual three-day meeting last weekend with the 2013 John Bates Clark Medal recipient Raj Chetty addressing a packed ballroom in Boston’s Sheraton Hotel. Known for his keen eye for the importance of details often ignored by other researchers, Chetty used the spotlight to make the case for […]
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