Blog

>Blog>

Supporting Decision-Making under Uncertainty: Nudging, Boosting or Both?

Heuristics play an important role in daily judgments and decision-making, but a scientific debate has been ongoing as to whether heuristics result in systematic errors or make us smarter. Both approaches have resulted in tools to support decision-making. Nudges address systematic errors and biases, while boosts support informed decision-making under uncertainty. But can these two opposing approaches be integrated into one framework?

By |2018-12-11T16:52:57+00:00December 11th, 2018|

Nudges in Personal Finance: The Case of Overdrafts

Unarranged overdrafts are financial products which help personal current account holders deal with outstanding balances or declined payments. However, consumers have the tendency to use these products too often, underestimating their negative financial consequences. Concerned by their financial well-being, the Financial Conduct Authority in the United Kingdom has begun to address the issue through the application of nudges.

By |2018-11-19T13:53:45+00:00November 18th, 2018|

All’s Well That Ends Better: The Need for an Emotionally Rewarding Finish Leads to Risk Taking at the End

New research shows how our motivational need for an emotionally rewarding ending affects decision-making.

By |2018-11-18T12:09:50+00:00October 29th, 2018|

The ‘Interpersonal Gambler’s Fallacy’: When Similarity Backfires

New research shows that being similar to a previous winner can have radically different effects on people’s participation likelihood in sweepstakes – it all depends on the attributions people make for the winning outcome.

By |2018-05-28T14:18:15+00:00May 28th, 2018|
This website uses cookies and third party services. By continuing to use our site, you accept our Privacy Policy, including our use of cookies. ACCEPT

Send this to a friend