Bi Project Policy Area: Economy

The overall purpose of the study is to facilitate and execute graphic design work and consumer testing regarding the pan-European Personal Pension Product (PEPP) Key Information Document (KID) and Benefit Statement (BS) in three Member States. We will use mix behavioural methods to understand relevant behavioural biases, and why consumers find certain aspects of information related to pension products difficult to understand, and how to overcome those difficulties.

Institution: Open Evidence

Team: Open Evidence

Organisation: Local Government Association

Organisation: Ontario Securities Commission

This study focused on switching in payment accounts and mortgages, exploring the reasons why consumers do not switch and possible behavioural remedies.

Institution: European Commission

Team: JRC Competence Centre on Behavioural Insights

Behavioural Additionality & Spillovers in the R&DTI Background This project aimed to understand the behavioural additionality effects of the R&DTI via a series of user interviews with companies currently engaged in R&D (including those participating and not participating in the R&DTI). Behavioural additionality goes beyond the traditional view of R&D additionality, which typically focuses on quantitative increases in inputs and outputs. Instead, behavioural additionality considers wider,…

Institution: Department of Industry, Science, Energy & Resources (Australia)

Team: Policy Lab

Organisation: Nügila OÜ

In June 2016, Oxera and the Nuffield Centre for Experimental Social Sciences (CESS) published the results of an experiment testing the effectiveness of different ‘prompts’ in encouraging consumers to shop around. The study, commissioned by the UK Financial Conduct Authority (FCA), found that personalised messages were the most effective in stimulating product comparisons, while generic messaging appealing to social norms also had a significant impact.

Institution: Oxera Consulting

Team: Behavioural Economics Team

How does the presence of consumer protection affect decisions at retirement? Oxera undertook a behavioural experiment for the UK Financial Services Compensation Scheme (FSCS) to understand the role of FSCS protection—in both how consumers select their retirement income products, and whether they choose to obtain financial advice. This revealed how people behave in a realistic environment, providing insight into actual consumer behaviour and the importance of the FSCS in their decision-making.

Institution: Oxera Consulting

Organisation: Instintivo

Oxera and the Centre for Experimental Social Sciences (CESS) conducted a behavioural experiment on behalf of the Financial Conduct Authority (FCA) to identify the effectiveness of certain summary cost metrics in aiding consumer selection of income drawdown products

Institution: Oxera