At first glance, fake news and false memories appear to be separate phenomena. But they have much in common as dangerous sources of misinformation. This article argues that fake news generates false memories, which in turn leads to flawed decision-making. Ignoring this interplay amplifies risk for individuals, businesses and policymakers who rely on information accuracy. Behavioural science techniques can nudge decision-makers towards more proactive critical thinking and self-checking to minimise this predictable and avoidable error.
There is a growing concern that the academic literature, because of publication biases and other limitations of single-shot, lab-based studies, overstates the power of nudges in real life. We examined this issue in a 10-week RCT in 60 supermarkets comparing 4 front-of-pack simplified nutrition labels. The good news is that the ordering of the nutrition labels was the same as in published lab-based studies. The bad news is that our effect sizes were, on average, 17 times smaller than in the published literature.
On September 24, 2020, we teamed up with the Think Forward Initiative to celebrate the launch of the Behavioral Economics Guide 2020. Our panel of speakers presented their work around the event's main topic 'What can behavioral economics contribute to tackle the threat of climate change?'. Here's a video recording of the event.
An increasing number of academic studies have used sports data to investigate economic behavior. Sports data are not only readily available, they also provide an excellent laboratory to study human behavior in real competitive environments. In this article, I will present several examples of my own work that have used sports data to explain fundamental economic theories, as well as articles that showed divergences of economic decision making from neo-classical theories.
There is a lot of evidence on the variation of human experience and that economic, social and linguistic environments strongly shape people’s behaviour, motivations and preferences. Despite this, these topics have not received a lot of attention in decision making psychology. In this article, I shed some light on the background of why this is the case.
Gauri Chandra discusses the negative implications of charging for single-use plastic bags and suggests alternative behavioural interventions.
Applied behavioural science is facing some tough challenges, in the form of an ongoing replication crisis and a public debate on limits to nudging (including COVID-related stumbles). At the same time, we believe there is reason to be optimistic: the fusing of behavioural knowledge with data science methods means that we can see some of these shared challenges in a completely new light. In this article, we show how a transformation of our interactions with consumers and employees can usher in a new age for the field.
In many countries, most transactions are still made in cash. Yet, keeping cash in your wallet can be quite cumbersome. Notes are light and easy to carry, whereas coins are heavy and bulky. Does the inconvenience of carrying coins have an effect on how easily we spend them?
Our decision making is subject to more pervasive observation than ever due to technologies that companies use to understand our offline and online activities — even before we make a purchase. Our research finds that consumers are particularly averse to being observed while they construct their preferences. Consumers feel that their sense of autonomy is threatened and distort their behaviors significantly in order to evade being observed.
Languages influence perceptions and decision-making. We highlight one of the most important linguistic features – Future Time Reference. FTR impacts speakers’ behaviors involving intertemporal considerations, even the most critical decision on life – suicide.