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 much-anticipated 2015 World Development Report (WDR), which this year focuses on mind, society, and behavior, was released today. Drawing on insights from many of the world’s top academics and researchers, the report makes a strong case for the successful application of behavioral science in international development. The report reviews early efforts from around the […]
People are presented with many choices throughout their day, from what to have for lunch to where to go on vacation to how much money to save for emergencies. In many situations, this ability to choose enhances our lives. However, having too many choices can sometimes feel like a burden, especially if the choices are […]
Since the release of 2008′s Nudge, behavioral economics (BE) has quietly invaded the public’s perception. Some of the most well-known examples include the creation of the Behavioral Insights Teamin the UK, Cass Sunstein’s appointment in the Obama Administration, and the rise of popular economics books like Daniel Kahneman’s Thinking, Fast and Slow (and to a […]
Behavioral economics’ most successful large-scale impacts have so far been in the developed world, with notable successes including the headway made on getting Americans to save for retirement or the many successes of Britain’s Nudge Unit. But at ideas42, we believe that behavioral economics can also dramatically change the way development programs work (for the […]
One from the archives: back in 2010, ideas42 co-founder Sendhil Mullainathan and New York University’s Glenn Loury had a wide-ranging discussion about behavioral economics, which you can listen to here. Lots of food for thought in there, including the behavioral economics of the snooze button, why single mothers are like air-traffic controllers, and sundry other […]
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