The Charter of Rights and Responsibilities of Financial Consumers is an initiative designed to counteract consumers' optimism bias and the information asymmetry that typically favors banks over users.
To address these behavioral and structural challenges, the initiative employs smart disclosure techniques, including the use of visual prominence and icons to guide users' attention when interacting with the document.
This charter is mandated to be displayed physically at bank branches, digitally…
Behavioural Insights Projects
Discover projects applying behavioural science to policy from around the world. Add your own projects, whether completed or still ongoing, to contribute knowledge on BI applications across different countries, policy areas, and topics of interest.
Number of BI projects:
0
Legend: Projects status
- Pre-registered project
- Completed project
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BI Project
Preparedness skills, sense of community and clear recommendations for action increase crisis…
The COVID-19 pandemic, the war in Ukraine, and other social and global political crises and incidents have increased the need to understand the mental resilience, preparedness, agency and sense of community of Finns in various crises and disruptions. This memorandum presents information related to these topics collected via the Citizens’ Pulse survey and citizen interviews commissioned by the Prime Minister’s Office in March and April 2022.
The problem
In Victoria, families need to consent to organ donation. Nine out of 10 families will consent to organ donation if a person has registered their intent to donate. But while 69% of Australians say they would donate their organs, only 33% of the adult population has registered. This is an example of the intention-action gap.
Behavioural insights concept: The intention-action gap refers to the difference between what people say they want to do, and what they actually do. It occurs in…
In collaboration with USAID and The Colombian Ministry of Justice, the project aims to design a Communication Strategy for Social and Behavioral Change to transform public perceptions of the justice system. This approach will integrate principles of behavioral science and strategic communication to:
Identify key barriers and beliefs that limit trust or appreciation of the justice system.
Segment target audiences, mapping sociodemographic and behavioral profiles to design relevant and effective…
PROJECT SUMMARY
Arizona State University freshmen students eligible for the Student Engagement and Employment Development Plan (SEED), a work-study program, received emails designed to emphasize the benefits of joining the program and eliminate hassles in the application process.
IMPACT
The redesigned emails increased the number of students applying for SEED jobs by 3 percentage points, from 9% to 12% of students.
Source: B-Hub
Behavioural science interventions advancing energy efficiency have mostly focused on consumer behaviour, with comparatively little work examining the important role that industrial consumers play in advancing the energy transition. Using the D.R.I.V.E.® framework, the project identified, analysed and consolidated the relevant literature and potential of behavioural science informed approaches to help SMEs become more energy efficient. Starting from a comprehensive review of the academic and…
BI Project
Combining Incentives with Narratives: Online-Field Experiment with Tesco to Reduce Plastic Bag Use
The pervasive use of single-use plastic bags presents a growing environmental challenge globally. Despite legislative efforts, such as the mandatory 5p bag-charge introduced in England in October 2015, the problem persists. The issue took on renewed urgency in the wake of the Covid-19 pandemic, which has seen a regression in consumer habits towards increased use of single-use plastics, driven by health and safety concerns (Adyel, 2020).
While traditional economic theory suggests that incentives…
BI Project
Promising circular business models: what options for a sustainable purchase are acceptable to…
A circular business model promotes reuse of products and materials. A case in point is a model where consumers return their jeans to the manufacturer after use. Which circular business model characteristics are consumers willing to accept right now, and what do they refuse? Acceptance of these models seems to increase if companies offer effective or appealing option combinations, such as monthly payment schedules and discounted returns.
Why this experiment was conducted: to promote the circular…
BI Project
Using savings to clear debit balances: What is the impact of pre-entering a repayment amount and…
Saving while being overdrawn costs consumers money. The interest they have to pay is far more than the interest they receive. An experiment tested two interventions aimed at encouraging consumers to use their savings to clear any overdraft, by pre-entering a repayment amount and giving explicit information about costs. These interventions lead to better choices amongst many, although not yet all, consumers.
Why this experiment was conducted: saving while being overdrawn costs
Dutch citizens…
PROJECT SUMMARY
ideas42 and Busara Center for Behavioral Economics worked with a major bank and telecommunications company in Nigeria to send behaviorally-informed SMS messages to customers to increase their use of mobile bank accounts.
IMPACT
Effects varied by message and audience; notably, injunctive norm messages led to a 45 percent increase in the number of clients making deposits among females with active accounts, from 0.82% to 1.81%.
RESULTS
Design
ideas42 and the Busara Center for…