Articles tagged with Behavioral Economics
A new study from the University of Vaasa examines how Finnish households are becoming more flexible with their energy consumption, driven by digitalisation and financial incentives. The research finds that material and monetary benefits are the most effective motivators for adopting flexible energy habits.
A new strategy to increase low-emission food consumption has been found effective in controlled choice experiments with 3,000 participants. The 'nudge by proxy' approach highlights consumer motivations rather than environmental impacts, significantly outperforming traditional carbon footprint labelling.
A groundbreaking study by the Global Association of Applied Behavioural Scientists found a significant gap between professionals' confidence and actual preparedness in workplace decision-making. The research identified 24 specific challenges, including training gaps, experience myths, and seeking help in the wrong places.
The book provides an overview of agent-based modeling and multi-agent systems, highlighting their application in understanding economic crises. It integrates machine learning to enhance adaptation and behavior of agents in dynamic environments.
Researchers analyzed multiple countries' performance in achieving infection control and economic recovery, highlighting the impact of risk attitudes, patience, and trust on policy decisions. Countries with high levels of trust and patience managed to limit deaths and resuming production, while those with low trust and higher risk toler...
Dilip Soman's Behaviourally Informed Organizations (BI-Org) partnership examined how behavioural insights can improve organizational processes and stakeholder engagement. The project led to significant direct impacts, including increasing pension contributions in Mexico and redesigning Ontario's organ donation system.
A study found that intense competition for four years significantly reduced helpfulness and trust among students, affecting their personality development. The researchers suggest changing the rules of competition or creating cooperation instead to potentially counteract these negative consequences.
The study reveals data visualization primarily facilitates decision-making at the organizational and community levels, particularly for semi-structured problems. Recent trends indicate increasing support for broader types of decision-making, including individual-level and unstructured problems.
A study by University of New Hampshire researchers found that communities with higher walkability scores experienced a 4% reduction in average pandemic-related mental health deterioration. The study analyzed national census and survey data to measure the impact of walking on mental health during the pandemic.
A new study found that short informational videos on social media can effectively promote HIV prevention among teens and young adults. The study suggests that public health campaigns should combine social media distribution with in-clinic viewing, use positive framing, and involve young people in content development.
A recent study by ifo Institute and LMU Munich found that Ukrainian refugees prefer countries with better job opportunities to those with higher social benefits. The survey of over 3,300 refugees showed that wage differences play a significant role in their choice of destination country.
Researchers found that retail transaction data can significantly improve credit access for consumers without a formal credit history, increasing approval rates from 16% to 48%. This alternative approach breaks the classic catch-22 in lending by using everyday shopping habits to build credit scores.
A Dartmouth study reveals distinct patterns associated with offshore secrecy, tied to home country governance. Elites from authoritarian countries use a 'confetti strategy,' while those from transparent democracies employ 'concealment' and 'hybrid' strategies to hide assets.
A new study reveals how political conditions in ultra-wealthy elites' home countries influence their offshore finance strategies. Elites from countries with high corruption and unfair law application used blacklisted financial centers, while those from risk of government confiscation employed identity-concealing strategies.
A new study estimates US vacation renters waste $2.3 billion worth of food each year due to grocery and leftovers going uneaten. The average nightly rental fee comes with a 5.1% surcharge for wasted food, equivalent to an additional lodging tax.
A new study explores how cousin marriage traditions shape informal businesses in Africa, finding that firms operating in areas with a historical tradition of cousin marriage prioritize hiring relatives and experience greater employment increases but smaller gains in revenue.
A study found that CEOs with Machiavellian personalities, characterized by self-interest and manipulation, earn significantly more than their counterparts. These leaders often secure higher pay through negotiation skills, benefiting both the company and themselves.
Researchers found that higher VIX levels are associated with more robust returns, suggesting that investors should hold onto stocks during times of high volatility. In contrast, a proposed strategy to reduce equity exposure during high VIX periods underperformed the market, according to the study.
A study analyzing 20 years of credit data finds that younger households with lower education levels are more likely to carry balances and struggle with payments. Meanwhile, those with university degrees or savings tend to stay current on their payments.
A new study by Boston University's Richard A. Currie explores the impact of workplace nosiness on employee performance and satisfaction. Researchers found that employees react to nosiness by pulling down their privacy boundaries, leading to higher stress levels and lower task performance.
A study by the University of Texas at Austin reveals that car dealers provide implicit subsidies to subprime borrowers. The dealers incur a loss of an average of $301 when arranging loans for these buyers.
A new study from the University of Notre Dame finds that returnless returns can increase brand support by up to 25%. The strategy involves allowing customers to keep returned items and receive a refund, rather than processing returns. This approach fosters goodwill and customer loyalty.
A new study reveals that fatal school shootings have far-reaching consequences, altering daily life and disrupting economies in affected communities for months. Anxiety about public safety drives a measurable decline in consumer activity, particularly in grocery stores and restaurants.
Renowned economist Michael Weber is nominated to join ESMT Berlin with a €5 million Humboldt Professorship, establishing the first business school in Germany to receive this distinction. The appointment aims to strengthen research in economics and policy at ESMT, exploring how households' expectations shape real-world decisions.
A study of nearly 20,000 employees found that workers care more about wage fairness than wage equality. When underpaid, they respond with a slight decrease in output, while being overpaid leads to a significant increase in productivity. This challenges companies' concerns about the impact of salary transparency on aggregate productivity.
A new analysis from UC Davis suggests that lithium-ion battery recycling could play a big role in meeting growing global demand for lithium, potentially reducing the need for new mines. Recycling could mitigate supply constraints and reduce carbon emissions associated with combustion engine vehicles.
A new study reveals that tech workers' values are complex and diverse, with developers exhibiting a strongly liberal worldview. Non-developer tech workers tend to share more in common with other occupational elites. Understanding these values is crucial for shaping the ethics and impact of the tech industry.
A study by Osaka Metropolitan University reveals six neighborhood-units in Kyoto's southeastern area have a disrupted balance between residences and accommodations, with hotspot locations near transportation hubs. Effective zoning policies are recommended to address overtourism's adverse social effects.
A new study from the University of Surrey found that cultural values significantly impact consumers' acceptance of mobile payments. The research identified five key cultural orientations that shape technology adoption, highlighting the need for businesses to develop targeted marketing messages.
Research from Cornell University found that consumers tend to overestimate fractional star ratings and underestimate numeric ratings, which can lead to companies overpromising and underdelivering. The study's findings highlight the need for new industry standards on rating formats.
A new study found that AI-driven reminders can significantly reduce overdraft fees, especially for users with fair to good credit. The research also highlights the importance of designing interventions that are both behaviorally informed and grounded in real-world financial constraints.
A new study from the Hebrew University explores middle-class parents in Israel who choose to live car-free due to personal values like promoting children's independence and maintaining a healthy lifestyle. These 'outlier' families offer valuable insights into reducing society's dependence on private vehicles, highlighting instrumental ...
Researchers identified a distinct group of modest green consumers in Finland who value ecological production but not luxury brands. In contrast to premium green consumers, these individuals are more likely to be older females with lower incomes.
A two-point rating scale was found to eliminate racial disparities in evaluations, resulting in more equitable pay for non-white workers. The system simplifies the evaluation process by focusing on whether something was good or bad, reducing bias and income inequality.
Researchers from the University of Surrey warn that manufacturers who fail to adopt digital transformation will be left behind. By harnessing emerging technologies like chatbots, digital twins, and AR/VR, manufacturers can improve customer centricity and enhance their value proposition.
Higher wealth taxes significantly reduce charitable donations in Norway, according to new research from the University of Texas at Austin. The study finds that allowing larger income tax deductions can increase giving by 4.4%. This suggests a possible solution to soften the impact of wealth taxes on philanthropy.
A new study by the University of Bath found that London's Low Emission Zones significantly reduced harmful pollutants, resulting in lower sick leave rates and improved mental well-being. The introduction of Ultra Low Emission Zones also delivered substantial cost savings.
Researchers found that most people are open to their friends asking to join plans, but hesitate to self-invite due to concerns about offending others. The study's findings suggest that people tend to underestimate the likelihood of getting invited and overestimate how much others consider them.
A groundbreaking database of over 55,000 housing measurements from around the globe supports research on correlations between housing size and inequality. The study examines patterns of inequality and their social consequences in human society.
A recent study found that many professions follow a nested structure in job skills, where advanced skills depend on prior mastery of broader skills. This has significant implications for wage inequality and career mobility. Basic educational skills are essential for developing higher-order reasoning and can lead to higher wage premiums.
A large-scale program in Turkey reduced disciplinary problems and improved academic achievement among disadvantaged middle school students. The program's success was attributed to buy-in from challenging adolescents who crave status and social recognition.
A new UNLV study reveals that CEOs' use of language and format in communicating future plans can shape investor judgments. Written messages are more effective in conveying likelihood, whereas video or audio diminishes the impact.
A study by Frontiers found that cultural dimensions influence price endings, with individualistic cultures preferring round prices, uncertain cultures choosing just-below prices, and long-term oriented cultures opting for precise prices. These findings have implications for retailers operating in global markets.
A study by Tepper School researchers found that tax cuts did not lead to increased investments in capital expenditures, employment, research and development, or mergers and acquisitions. Instead, companies used the repatriated funds primarily for shareholder payouts and cash retention, challenging existing financial theories.
Historical analysis of bureaucracy suggests that quality nation-building holds more importance than democratic institutions in economic growth. The study found a negative correlation between universal suffrage and the quality of current institutions in nations with low-quality bureaucracies.
A literature review reveals that our intuitions about success are often misleading, with failure being a predictor of future success and early successes reinforcing inequalities. The study also shows that persuading 'bridge' individuals in social networks is more effective at driving mass adoption than celebrity endorsements.
A Cornell University study found that people who go against their better judgment feel greater feelings of control and culpalibility, even if they received input from an adviser. This effect may extend beyond small decisions to major life choices.
A new study from the University of Texas at Austin finds that AI can create high-quality business plans and even critique existing strategies. The research suggests that AI can enhance the speed, quality, and scale of strategic decision-making, potentially giving companies a competitive edge and enhancing performance.
A recent study by the University of Georgia found that financial stress can contribute to burnout and reduce job satisfaction. The researchers surveyed over 200 employees and discovered that current worries about money management increased levels of burnout, while expected future financial security improved views on one's job.
Understanding how dominance and tribal instincts fuel division is critical to addressing global conflicts and economic inequality. Professor Jorge A. Colombo argues that fundamental behavioural drives are hardwired into our species and continue to shape human behaviour today.
Research by West Virginia University expert Kylie Vo found that consumers who believe in karma are more likely to forgive companies that behave immorally and less likely to boycott them. In contrast, non-moral transgressions like defective products or misleading claims can severely damage consumer-brand relationships and brand value.
A recent survey of 2,100 US customers found that the price of meat alternatives is the most decisive factor for their acceptance. When both options were priced the same, respondents often favored the animal product, but significantly cheaper alternatives made them more attractive.
A large-scale study analyzing over three million job postings finds that Generative AI tools like ChatGPT are accelerating the transformation of the job market. While demand for partly substitutable skills reduces, new jobs are created in areas such as chatbot development and machine learning.
A new study from Ohio State University finds that freezing food can lead to less waste, with households that practice home freezing exhibiting lower levels of total food waste. The study also highlights the importance of proper food storage techniques and education on reducing food waste, particularly among consumers.
A new study by Dr. Ohad Raveh and Dr. Nathan Goldstein finds that UAP sightings are positively correlated with economic conditions across regions but display counter-cyclical patterns within those regions over time. The research suggests that shifts in attention to extraordinary phenomena may reflect broader fluctuations in public focus.
A QUT-led study found that surgeons are slow to adopt newly developed biomaterials or tissue-engineered solutions for treating bone defects. The researchers surveyed 337 surgeons and 99 scientists, revealing a significant gap between their optimism about future advancements and the slow adoption of these innovations in clinical practice.
A study by Curtin University found that when cigarette prices increased, cannabis use among older Australians (aged over 50) rose, with 68,000 people expected to start using cannabis. Researchers used data from the Australian National Drug Strategy Household Survey and ran simulations to predict the impact of price increases.
Researchers found a 28% decline in social acceptability of drinking sugar-sweetened beverages, with attitudes changing after tax increases and media attention. The shift in social norms has major implications for public health efforts.
New research from Indiana University finds that accepting funding from family and friends can lead entrepreneurs to make more conservative venture growth decisions. This 'funding-source-induced bias' can result in anticipated guilt, prompting founders to prioritize lower-risk strategies.
Researchers found that brief scientific literacy interventions can undermine conspiracy beliefs, particularly those built on faulty reasoning. These interventions were most effective against novel conspiracies and among high-conspiracy groups.