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
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The purpose of this survey is to better understand Canadians’ perceptions, knowledge and decision-making related to home energy labels and to explore different design features and information presentations that may drive energy-efficient choices.
Challenge
The City of Philadelphia in Pennsylvania offers a discount to low-income senior citizens living in the municipality on their water bills. Senior water and sewer customers can apply to receive 25 percent off their payments for water in an effort to reduce the financial burden on those elderly citizens with lesser means.
However, despite the fact that this would benefit the citizens in question, the City of Philadelphia noticed that many low-income seniors eligible for the discount were…
Pacific Island Nations are facing a crisis of Non-Communicable Diseases (NCDs) - chronic diseases which are the result of a combination of genetic, physiological, environmental and behavioural facts. NCDs are the leading cause of mortality in the region, accounting for 75% of deaths. Unhealthy diets in particular have been recognized as a risk factor for high rates of obesity. Residents of the Pacific Island Nations have some of the highest rates of obesity in the world, with 92.9% and 80.7% of…
Challenge
Students in low-income districts are less likely to sign up to take the Gifted and Talented (G&T) admissions test than their peers in higher-income districts. As a result, fewer students from low-income districts test into and attend G&T programs that could improve educational outcomes and provide meaningful opportunities. To the extent that the city may use sign-up rates as an indicator of demand, and thus where additional G&T programs should be located, low sign-up rates can mean…
BI Project
Enhanced cybersecurity of SMEs: Can a phishing test make companies less vulnerable to cyberattacks?
Small and Medium-sized Enterprises are particularly vulnerable to cyberattacks. A large-scale field experiment amongst SME employees showed that a phishing test is effective in the short term, but not in the medium or long term.
Why this experiment was conducted: SMEs are vulnerable to cyberattacks
Phishing is one of the most common types of cybercrime and is frequently the precursor to additional cyber threats, including malware and ransomware attacks. SMEs are vulnerable, with many of them…
BI Project
Stabilization of blood supply and demand for the National Transfusion Service of the Slovak Republic
Analysis of the preferences of current blood donors and development of a strategy for launching a behavioral blood donor registry.
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…
As of 2007, the UK Ministry of Justice was imposing over £350 million in new court fines annually, only half of which were collected within six months. In 2011, the Ministry faced over £600 million in outstanding unpaid fines.
Her Majesty’s Courts and Tribunal Service (HMCTS), which administers the collection of fines, incurs significant costs from non-compliant debtors. In addition to resources for case-management and follow-up phone calls, bailiffs are assigned to recover the debt…
How does information on the job market affect the expectations and preferences of
pupils in pre-vocational education?
A large online platform for career development and career counselling
provided pupils who were attending pre-vocational colleges with
information on the career prospects of professions in which they are
interested. This information resulted in pupils revising their expectations,
and made them more likely to aim for jobs with better career prospects.