How Irrational Labs Creates “Irrational” Bonuses 70% of U.S. employees are disengaged at work. When we think about how to fix this, most companies turn to financial incentives. Pay-for-performance year-end bonuses are pervasive. But do they work? A meta-analysis of … Continue reading Money and happiness
Go Ahead, Heap Rewards on Your Kid A few months ago, my husband and I met a psychologist who advised us to start using rewards with our 6-year-old. Our son is happy, but he struggles at times with his behavior … Continue reading Incentives for kids?
Spend Your Money on Whatever You Want Perhaps it is unsurprising that in the age of Marie Kondo, we have bought into the idea that we should stop spending our hard-earned money on stuff. There’s a whole slew of social … Continue reading Which one would make you happier?
Costly Curves Western cultures tend to associate thinness with beauty, health, self-discipline, success, and economic value. Research by Marisabel Romero and Adam Craig, recently published in the Journal of Consumer Research, shows that these associations can have an unconscious effect … Continue reading Big spenders
How to Resolve Fights over Reclining Airplane Seats: Use Behavioral Economics Not since the Battle of the Somme has such little space been the subject of such intense conflict. We refer to the fact that Americans are now punching each … Continue reading Economics of reclining
Financial Literacy Month…with a Behavioral Twist As an unabashed finance nerd, I love a good tip about how to improve my financial health. I always look forward to April, Financial Literacy Month, for a flood of recommendations. Managing personal finances … Continue reading Behavioral literacy tips for finance
How Humanizing UX Is Reshaping Digital Marketing For Financial Services Consider this: Companies lose $62 billion every year due to poor customer service. NewVoiceMedia, the contact center vendor on whose research this figure is based, theorizes that great customer service … Continue reading Money emotions