In Urban China, Cash Is Rapidly Becoming Obsolete There is an audacious economic phenomenon happening in China. It has nothing to do with debt, infrastructure spending or the other major economic topics du jour. It has to do with cash … Continue reading Getting rid of cash
The Surprising Impact of Seeing Red During the 2004 Olympics, when athletes in four combat sports were randomly assigned red or blue outfits, those in red won more frequently. Where are we going? To how red affects us. The Impact … Continue reading Are red stocks better?
When Harm Helps: Building Choice Architecture for Investors When I was 16 years old, my parents sat me down and said: We know you’re at the age when you might start drinking. We are not encouraging you to drink—it will … Continue reading Financial choice architecture
The Rise of the Digital-Only Banking Customer The financial services industry has been working hard to deliver a better experience on digital channels. Building on an early foundation that focused more on cost savings than customer experiences, most banking institutions … Continue reading The omni-digital consumer
Platonically irrational In his essay ‘On Being Modern-Minded’ (1950), Bertrand Russell describes a particularly seductive illusion about history and intellectual progress. Because every age tends to exaggerate its uniqueness and imagine itself as a culmination of progress, continuities with previous … Continue reading Plato on cognitive biases
Use behavioral finance to put worried clients at ease It may seem counterintuitive to some advisers, but clients both want and need to be told that they’re wrong, according to Paul Blease, the director of OppenheimerFunds CEO Advisor Institute. Clients … Continue reading Behavioral manipulation
What’s Stopping Chileans from Saving Saving money is important not only for long-term needs like retirement but also for expenses in the short term. This is because incomes and expenses are not always constant, and people can’t necessarily predict when … Continue reading Too optimistic to save