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 […]
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 […]
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 […]
Imagine having to make a small sum of money last an entire month, ensuring that there is money available at the right time for rent, food, school fees, and other incidentals. Anyone who has tried to get by on a limited budget will know how hard this is; winding up with not quite enough as […]
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 […]
In his conversation with Glenn Loury, Sendhil Mullainathan touched on the stresses of parenting. But how does poverty affect all this? Is there reason to believe that a harried single mother who is also poor will have an even harder time doing the things needed for her child to do well than a harried single […]
How should findings about discipline and self-control shape policies to prevent over-indebtedness? How should the ways people learn and retain knowledge shape financial education programs? What are the best ways to disclose product costs and terms in a way that is relevant to consumers’ daily lives? These were some of the key questions explored in […]
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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