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.
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
This website, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.
Installation of large, moveable trash containers and trash cans in convenient locations made disposal of large trash bags and litter easier for residents of New York City public housing. A package of indoor and outdoor posters informed people of the new policy and encouraged them to use the new infrastructure.
BI Project
Redesigning the Mortgage Statement and its Impact on Consumers Mortgage Purchase Decisions:…
Chilean mortgage loan market is characterized by debtors' limited understanding of financial information an low level of loans' renegotiation. As a result, there is a high risk that consumers are missing benefits from economic opportunities. That's why Chilean financial institutions must, by law, send to their customers every three months, a Mortgage Statement designed by the regulator.
This policy paper is an executive summary of a study that shows qualitative and quantitative evidence about…
Challenge
Conditional cash transfers are funds given to households if they fulfill certain requirements, such as sending their children to school. These cash transfers can boost households’ investment in health and education; however, they are expensive, and it is often complicated to track and enforce compliance with the requirements. Removing the conditions may make cash transfer programs more cost effective by decreasing administrative costs, while still providing a nudge to increase school…
PROJECT SUMMARY
Students were sent two redesigned emails during the course selection process: a pre-registration email that laid out instructions and procedures for registration, and a post-registration email that notified students if any of their upcoming courses did not fit financial aid requirements.
IMPACT
The average aid award for students receiving both redesigned emails rose by $150.28 per student for the Spring semester compared with students who received neither email, with a total…
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…
The Program of Applied Research on Climate Action in Canada (PARCA Canada) combines behavioural science (BeSci) insights and methods with robust policy analysis to promote climate action. One of the main areas of focus involves the launch of a longitudinal survey that will, over time, collect data on research questions of interest to the promotion of climate action in Canada (e.g. transportation, home energy use, waste management, engagement with nature, preparedness for extreme weather,…
BI Project
Website Verbeterjehuis.nl helps homeowners choose the right sustainability measures: which…
This online experiment tested various ways in which sustainability measures for homeowners are presented on the website verbeterjehuis.nl, ‘improve your home’. The variant emphasising that the sustainability measures are 'recommended for your personal situation' proved to be most effective. This addition acts as an incentive to homeowners to install roof insulation or adopt other sustainability measures.
Why this experiment was conducted: verbeterjehuis.nl website optimisation
Homeowners…
The Program of Applied Research on Climate Action in Canada (PARCA Canada) combines behavioural science (BeSci) insights and methods with robust policy analysis to promote climate action. One of the main areas of focus involves the launch of a longitudinal survey that will, over time, collect data on research questions of interest to the promotion of climate action in Canada (e.g. transportation, home energy use, waste management, engagement with nature, preparedness for extreme weather,…
Behaviorally informed messages have had demonstrated success in increasing tax compliance in multiple regional settings. In Indonesia, which has the largest economy in Southeast Asia, a trial from the Directorate General of Taxes (DGT) and World Bank teams looked at whether behaviorally informed messages and materials can impact tax compliance and payment rates among small and medium enterprises (SMEs). The results showed, to get delinquent firms to pay their taxes, information is not enough -…