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SUMMARY:Using Nudges to improve financial decision-making.  - Matija Frank
 lin 
DTSTART:20190313T150000Z
DTEND:20190313T160000Z
UID:TALK121099@talks.cam.ac.uk
CONTACT:Melisa B
DESCRIPTION:Behavioural interventions that directly influence decision-mak
 ing are increasingly popular policy tools. Two prominent interventions use
 d are nudges\, which promote an optimal choice without restricting options
 \, and boosts\, which promote individual capabilities to make more informe
 d choices. In this study\, we compare the effectiveness of nudges and boos
 ts for financial decisions under uncertainty and delineate the factors tha
 t may improve their effectiveness. Two studies in the US and Serbia (N=1\,
 423) tested a series of choices under uncertainty. In the pre-registered r
 eplication in Serbia\, hypothetical and consequential decisions are used. 
 Findings indicate effects of nudges and boosts generally differ depending 
 on loss and gain framing\, and boosts are typically more effective for tho
 se who initially made suboptimal choices. These insights provide clarity t
 o highly nuanced\, complex patterns across population behaviours in the co
 ntext of financial choice under uncertainty and considerable implications 
 for the design of interventions for policies that impact population behavi
 ours.\n\n_Matija Franklin is a Behavioural Scientist at the Policy Researc
 h Group and NudgeTech. With the PRG\, he is currently researching ways in 
 which nudges and boosts can be used to improve financial decision-making u
 nder uncertainty. With NudgeTech he is creating a smart scheduler that use
 s behavioural insights and machine learning to schedule people's work days
 ._ \n
LOCATION:Nick Mackintosch Seminar Room\, Department of Psychology\, Downin
 g Site
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