Lemonade Is Using Behavioral Science To Onboard Customers And Keep Them Honest Insurance startup Lemonade won itself headlines in January with the boast that it had successfully approved a claim in just three seconds. In that time, Lemonade’s software had … Continue reading Decisions in context
How Behavioral Economics Can (and Can’t) Boost Health As the bestsellers started piling up, from 2008’s Predictably Irrational and Nudge to 2011’s Thinking Fast, Thinking Slow, the buzz around behavioral economics — the science and practice of nudging people toward … Continue reading The challenge of behavioral change
The Cost Of Our Dishonesty Trust is an incredibly important factor in society. But it’s not always visible. We don’t always recognize it, or value its contribution to society. Here’s a story: on a recent trip to South America, I … Continue reading Trust in insurance
Why the Mona Lisa stands out In 1993 a psychologist, James Cutting, visited the Musée d’Orsay in Paris to see Renoir’s picture of Parisians at play, “Bal du Moulin de la Galette”, considered one of the greatest works of impressionism. … Continue reading Exposed to Mona Lisa
Longer deadlines make people donate more money “If you give a donation within three days, an anonymous contributor will donate an additional DKK 10.” This was the message that researchers from the Department of Economics and Business Economics, Aarhus BSS … Continue reading Do deadlines make sense?
Behavioral Economics: The Best Kept Secret in Startups I hated Economics in high school. My teacher was a womanizing drunk who sat all the pretty girls in the front row and drew boring graphs on the whiteboard. I remember thinking … Continue reading Deserving the best
The Problem with Saying “My Door Is Always Open” If you are in an influential position, you have probably said words to the effect of “My door is always open.” You likely meant this declaration very genuinely. You might well … Continue reading Leadership and labels