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
The problem with preferences A cynic, Oscar Wilde wrote in his play Lady Windermere’s Fan, is “a man knows the price of everything, and the value of nothing”. This suggests that price and value are two different concepts, which apparently … Continue reading Unknown preferences
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?
How Behavioral Economics Can Help You Retire Rich The behavioral economics expert and professor at Duke University’s Fuqua School of Business is the maestro of the behavioral tweak. His skills, and those of other researchers and experts in fields ranging … Continue reading Deadline + reward = $
The psychological trick that makes it harder to pay off your credit cards Unlike your typical mortgage or car loan, credit cards are a door to open-ended debt. There exist no standard repayment plans, no deadlines to keep you on … Continue reading Anchoring to the minimum payment