Regulators require lenders to display a subset of credit card features in summary tables before customers finalize a credit card choice. Some jurisdictions require some features to be displayed more prominently than others to help ensure that consumers are made aware of them. This approach could lead to untoward effects on choice, such that relevant but nonprominent product features do not factor in as significantly. To test this possibility, we instructed a random sample of 1615 adults to…
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.
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Using sustainable transportation alternatives can often be hindered by car dependence (Haustein, 2021). Within the context of Santa Monica, for example, approximately 75% of Santa Monica residents choose single occupancy vehicle (SOV) commutes to work, and over 50% of households own more than one vehicle (Data USA, n.d.). More generally, vehicle transportation accounts for 62% of greenhouse gas emissions in the city, making it the largest emissions contributor (Johnstone, 2021).
However,…
In a pre-registered experiment, we tested whether expert endorsement increases the effectiveness of debunking messages about COVID-19 vaccines. We monitored a sample of 2,277 people in Italy through a longitudinal study along the salient phases of the vaccination campaign. Participants received a series of messages endorsed by either medical researchers (experimental group) or by generic others (control). In order to minimise demand effects, we collected participants’ responses always at ten…
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…
We seek to increase voluntary appearances for people with outstanding Warrants to Arrest (WTA) through reminder phone calls from Māori Wardens and Police. This Auckland-based project follows a proof-of-concept trial in the Eastern District, in which Māori Wardens made phone calls to people with outstanding WTAs and we compared voluntary appearances for those who were reached via phone to those who were not.
While this first trial showed indicative evidence that phone calls may be effective,…
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…
This study examined how people respond to a new income plan for retirement, known as a Comprehensive Income Product for Retirement (CIPR). A CIPR is a composite retirement income product which is intended to provide a balance of income, risk management (for example, longevity risk management) and flexibility to retirees. In response to a Financial System Inquiry1 recommendation, the Government has agreed to facilitate superannuation trustees pre-selecting a CIPR for their members at retirement.…
BI Project
Broader job search: How can jobseekers be encouraged to explore fields and professions with better…
Some jobseekers remain unemployed because they focus on professions and felds in which the job prospects are not favourable. What happens when they receive personalised labour market information about more promising professions and positions that match their knowledge and skills? Compared to people who do not receive that information, they are more likely to move into professions that are completely different from the profession with poor job outlooks that was their first preference.
Why this…
When firms in the UK do not follow the Financial Conduct Authority’s (FCA) Rules or Principles, and consumers incur financial losses as a result, the FCA seeks to ensure customers receive adequate compensation, or redress. In 2011/12, the FCA helped obtain over £150 million worth of redress for consumers. Instances where consumers are due redress do not often receive publicity. Instead, the firm alerts customers to a potential issue, usually in the form of a letter that gives customers…
PROJECT SUMMARY
Teachers in a summer school program for high school students provided brief, individualized, messages for parents with information about their child’s performance and behavior in school on a weekly basis.
IMPACT
Providing parents with individualized messages increased the probability a student earned credit for each class by 6.5 percentage points – a 41% reduction in failure rates.