The general objective of this project was to test the effectiveness of presented information to retail investors. The overall aim is that the information provided should be well understood by retail investors and allow them to compare and select among different investment products.
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:
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Legend: Projects status
- Pre-registered project
- Completed project
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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…
BI Project
Social Multipliers at Work: Improving Children’s Outcomes Through Aspirations and Role Models
Every year, governments spend large amounts
of resources on development programs that aim
to change poor households’ behaviors and attitudes
toward investment in the education, health, and
nutrition of their children as a way to end the cycle
of poverty. One key mechanism that can achieve this
is working to raise aspirations. But how do you do
that in practice?
In this project, together with Karen Macours of the
Paris School of Economics and the Ministry of Family
in Nicaragua, we find that…
The problem
Missed appointments are a significant cost to the health care system, and patients who do not attend appointments miss out on valuable care.
What we did
We partnered with the Department of Health and Human Services and several health services to improve patient communications as part of a new Communications Toolkit for health services.
To understand what works, we designed a range of behaviourally-informed SMS reminders and letters to reduce the number of patients who do not attend…
BI Project
Implementation of a chatbot based on behavioral strategies to promote the continuity of vaccination…
Despite the overwhelming medical evidence on the protection offered by the second, third and fourth doses of the Covid-19 vaccine, the acceptance of these doses remains low despite the existing supply. The problem is likely because there are currently no reminders in the province of Chaco, Argentina. This makes it difficult for residents to know if they are eligible for the next dose of the COVID-19 vaccine and where to access it.
Booster vaccination is associated with a lower risk of mortality…
BI Project
Increasing consumer engagement in the annuities market: can prompts raise shopping around?
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.
BI Project
Car Insurance Quote Sheet: Experimental Evidence of Its Impact on Financial Consumer Decisions
SERNAC designed and tested Key Fact Sheets to help consumer decision-making on quoting car insurance.
The study evaluated options to standardize the car insurance quotation sheet's design through a randomized online experiment with 3,008 consumers. Three prototypes were designed and tested in contrast to a representative quotation sheet currently provided by insurance companies in Chile to achieve this objective. Each prototype considered simplifying the language and standardization of the…
Contact-tracing mobile phone apps have the potential to play a role in controlling
the spread of COVID-19, but their success hinges on widespread uptake by the public. We
report a study that behaviourally pre-tested COVID Tracker, Ireland’s contact-tracing app,
prior to its launch with a large sample of smartphone users. The study was funded by the
Department of Health and run in co-operation with the app’s developers, NearForm.
Participants were randomised to receive different versions of a…
BI Project
Generating more enthusiasm for teacher training programmes: How to get students more interested in…
In this experiment, various emails were sent to students in senior general secondary education (HAVO) and preuniversity education (VWO) to inform them about open days of teacher training programmes. The subject line that most caught their attention was ‘Are you looking for job security, challenge and a wide range of career opportunities?’ as well as a subject line in which a role model was introduced. Where emails mention teachers' starting salaries, students most often click links to more…
Countries across the globe suffer from high rates
of youth unemployment and inactivity. The Maldives
are not immune. Despite efforts by the government
to increase employment opportunities among
young Maldivians, including the establishment
of employment quotas for nationals, results have
been underwhelming. Young people face barriers
such as social and gender norms around women’s
role in society, absence of role models to look up
to, and few jobs perceived as “suitable” for…