Jan 17, 2014
People are presented with many choices throughout their day, from what to have for lunch to where to go on vacation to how much money to save for emergencies. In many situations, this ability to choose enhances our lives. However, having too many choices can sometimes feel like a burden, especially if the choices are … Read more.
Jan 7, 2014
Reflecting back, 2013 was an exciting year for ideas42, CFED and the Citi Foundation. Through the BETA (Behavioral Economics Technical Assistance) Project, we worked with Accion Texas, the Cleveland Housing Network, and Neighborhood Trust Financial Partners to design and test new solutions for their programs using insights from behavioral economics. We defined the problems to be … Read more.
Nov 21, 2013
Editor’s Note: The following article was originally published by Next Billion‘s James Militzer. Why do so many people – in all countries and at all levels of society – struggle to make sound financial decisions? Answering that question is one of the missions of ideas42, a non-profit “behavior design lab” that specializes in behavioral economics, … Read more.
Nov 20, 2013
Editor’s Note: The following article was originally published by Next Billion’s James Militzer. Here are some undisputed financial truths: It’s good to pay your bills on time and save for a rainy day. It’s bad to live beyond your means and carry too much costly debt. We all know those things. Yet billions of people, … Read more.
Oct 8, 2013
Take a look at your to-do list. Which task do you expect to complete first? Probably something fairly simple and concrete: “Buy groceries,” “Pay phone bill,” “Clean bathroom.” Now, which task always gets pushed to the bottom of the list? Learning conversational Spanish would be fun and would make you a stronger job candidate, but … Read more.
Oct 3, 2013
ideas42 and its partners, the Doorways to Dreams (D2D) Fund, the Center for Financial Services Innovation (CFSI), and the Corporation for Enterprise Development (CFED), are excited to announce a call for prototyping partners on the CFPB Innovations Project. The project seeks to develop and test prototypes of new approaches for helping consumers overcome common decision-making … Read more.
Sep 30, 2013
“Make It Easy” – it’s not just a Staples advertising gimmick, but a key design principle from behavioral economics. How can we make sure people sign up for 401(k) savings accounts? Make it easy by setting a default plan. How can we get people to eat right? Make it easier by designing an intuitive food … Read more.
Sep 24, 2013
Have you ever meant to do something so important or so forgettable that you created a reminder for yourself, only to find that you still failed to follow through? Maybe you wrote a note reminding yourself to pick up the dry cleaning on the way home from work, but you completely forgot after a busy … Read more.
Aug 5, 2013
At what point can we say that we understand another person’s behavior? “Before you abuse, criticize and accuse,” singer Joe South told us, “Walk a mile in my shoes.” If we walked a mile in the shoes of every client that our three BETA test sites serve, we would need to cover approximately 3,797 miles. … Read more.
Jul 29, 2013
Part of diagnosing a behavioral problem is realizing that you don’t always know where to look for the “symptoms.” In medical diagnosis, symptoms are at least limited to the physical human body. Human behavior, on the other hand, is shaped by a complex blend of contextual details and internal neuro-cognitive processes into which we have … Read more.