Even when bank customers have a very good reason to switch, research shows they’re often reluctant to make the move.
Bank customers usually stay with their bank despite scandals in the sector, however new tech that gives consumers more information might help them switch.
Stories can have a profound effect on our behaviour.
History shows us that narratives play an important role in market behaviour. But new research shows that all it takes is a simple story that matches our preconceived notions.
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Ridiculed and ignored in 2016, what can the 'dismal science' offer us now?
Renowned economist Thomas Schelling celebrates winning the 2005 Nobel Prize in Economics.
Nobel Prize winner Thomas Schelling will be recognised for his little-known comments that sparked behavioural economics.
It starts by making a plan.
As Election Day approaches, candidates in races across the country will be doing everything they can to get out the vote – including turning to behavioral science.
A crack in the culture?
The thousands of Wells Fargo low-wage employees who defrauded customers likely knew how it felt to face unfair overdraft fees or a deteriorating credit rating. So why did they do it?
Counting is hard.
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It turns out most of us under-report how many calories we consume – but it's not entirely our fault.
Educating people about the dangers of sugary drinks has little impact on their consumption and taxing them is unpopular. Luckily, there is a third way.
There are obvious and hidden agendas behind what the budget incentivises.
Just what does the government think you will do with the changes to tax, extra money or cuts in the federal budget?
I drank how much more than my peers?
Excessive drinkers are more likely to seek help when their drinking habits are compared with their peers than when they are simply given the guidelines.
We want a tax system that is structured fairly and for other people to pay what they are meant to. Determining what this is, though. is tricky.
Assistant Treasurer Kelly O'Dwyer says super should be used to increase self-sufficiency in retirement.
Legislating a definition of super overlooks the real motivators behind people saving for retirement.
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Almost half of Americans have trouble saving, while average credit card balances have swelled to $6,000. Can we turn this around?
The negative sentiment surrounding the stock market is a self-fulfilling prophecy.
Behavioural economics can explain why stock markets have been so closely following the price of oil.
A gift of cash may be just the right thing.
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Still don't know what to get your loved one? Here are four gift-giving taboos meant to be broken.
Love between countries is more important than strong legal agreements.
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The Paris climate deal has been criticised for not being strong enough. But behavioural economics studies show weak deals can work out better in the long run.
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"Nudge" economics have been embraced by policy makers. But how does it fare against more traditional ways of altering behaviour?
Choosing a mobile phone shouldn’t be this hard.
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Behavioural economics offers some solutions to the problem of too much choice, but will only work if consumers feel they can make their own decisions.
Is the right to pursue happiness equally available to all Americans?
Foundation essay: This article is part of a series marking the launch of The Conversation in the US. Our foundation essays are longer than our usual comment and analysis articles and take a wider look…
Aim for the flies, nudgees.
It took decades for behavioural economics to break into the mainstream. Now, after just a few years of “bias”, “anchoring” and “nudge”, some critics are already questioning whether it has anything left…