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Behavioral Science Ideas at Your Fingertips

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We Use Less Information Than We Think to Make Decisions

How much information do you need to make up your mind? Our research in various domains of decision making shows that we make decisions more quickly and based on less information than we think. This has important implications in an age in which information is plentiful.

By |2019-04-03T09:42:28+00:00April 3rd, 2019|

Nudge Action: Overcoming Decision Inertia in Financial Planning Tools

Robo-advisors help investors deal with the complexity of the stock market. However, users of these new decision support systems are not immune to decision inertia – repeating supoptimal investment strategies regardless their negative financial consequences. I investigate two possible nudges to help user overcome decision inertia in robo-advisory environments.

By |2019-03-12T09:35:22+00:00March 12th, 2019|

Good for Some, Bad for Others: The Welfare Effects of Nudges

Nudges have become popular policy instruments, for good reasons. However, recent studies show they might sometimes backfire or cause undesired distributional effects – differing impacts across people. Such studies highlight the importance of careful policy analysis that examines both the average and distributional impacts of nudges.

By |2019-02-21T09:25:19+00:00February 19th, 2019|

Balancing Motivational Orientations for Improved Goal Pursuit

Researchers have long maintained the importance of individual differences in motivational orientations for understanding personality and behavior. Recent findings suggest that strengthening and integrating four different motives in particular may make us better decision makers and more effective at achieving our goals.

By |2019-02-19T17:04:00+00:00January 22nd, 2019|

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|
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