Why a timely nudge might help us save money Anyone struggling to save money might take inspiration from labourers in rural India. These low-paid construction workers took part in an experiment. When they were paid, some of the cash was … Continue reading Saving can be hard
Four Definitions of Money. All Correct. Money makes the world go round. That may well be true, but money certainly makes the economics world go round. It’s the discipline’s special purview, the numeric linchpin that gives economics its dominant role … Continue reading The sense of money
How Employers in Poor Countries Are Using Nudges to Help Employees Save Money One of the most common ways to get people to save is through their employer. In particular, behavioral economics—that marriage of economics and psychology that has put … Continue reading The default enrollment
Will You Outlive Your Money? Methuselah was lucky. The Biblical stalwart lived 969 years without any reported money worries. Like him, many Americans now survive to an advanced age—although nowhere near the record set by the man who might have … Continue reading The fear of living longer
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
How to Trick People Into Saving Money Late last summer, Dawn Paquin started keeping her money on a prepaid debit card from Walmart instead of in a traditional checking account. The wages from her factory job—she works from 9 p.m. … Continue reading Alluring for poor people
Is It a Nudge or a Shove? Even Experts Can Blur the Lines This morning I woke up at what felt like 7:20 A.M., and enjoyed not feeling both under-slept and already late. Instead, I had the great pleasure of … Continue reading Is Daylight Saving a good nudge?