Nov 15, 2018 by Jaclyn Lefkowitz and Emily Zimmerman
A recent report by the World Economic Forum estimated that by 2050 the retirement savings gap may reach $400 trillion, leaving hundreds of millions of people at risk of poverty in old age. This problem is particularly acute in Mexico and across Latin America. Aging populations, low mandatory contribution rates, and large numbers of informal … Read more.
Apr 25, 2018 by ideas42
For the past few years, we have been applying behavioral science to city programs and services in New York and Chicago to help the city government take into account complex human behavior, and the contexts in which we make decisions. We have embedded experts into agencies themselves—a model we call Behavioral Design Teams (BDTs)—to tackle … Read more.
Feb 8, 2018 by Juan David Robalino & Andrew Fertig
Retirement savings are a serious challenge in Mexico. With a low overall participation in the formal pension system and one of the highest rates of elderly poverty in the region, it is essential for workers to make voluntary savings to ensure their financial health during retirement. Unfortunately, less than 1% of account holders actively save … Read more.
Jan 24, 2018 by ideas42
Many New Yorkers who are summoned to court for a range of minor infractions—from littering to disorderly conduct—don’t realize that failing to appear in court on their designated date automatically sets in motion a warrant for their arrest. In 2014, 41% of the approximately 320,000 people issued a citation for a violation or low-level … Read more.
Nov 14, 2017 by John Harris & Doug Palmer
After a long day of work, commuters hope for a fast trip home with few hassles. Drivers want to avoid traffic congestion, and mass transit riders crave an open car with empty seats. However, commuters on the nation’s busiest mass transit systems are often crammed into full train cars after waiting on busy platforms. The … Read more.
Jul 18, 2017 by ideas42
In the United States, more than 45 million people live below the poverty line, including one in five children who will experience its long-lasting effects. While public benefits programs meaningfully impact countless lives by providing essentials like food and health care, many people who are struggling do not receive these benefits for a variety of … Read more.
Nov 2, 2016 by Marcela Cheng & Andrew Fertig
For millions of people around the world, the consequences of inadequate retirement savings are devastating. The problem is widespread even in countries with formal systems of mandatory contributions to individual retirement accounts. In Mexico, these mandatory contributions amount to less than 40% of a worker’s salary during retirement, and few people make the additional (voluntary) … Read more.
Aug 9, 2016 by David Munguía Gómez
Saving for retirement can feel like giving money to a stranger. Forgoing money in the present to benefit the person we will eventually become—our “future self”—is often a difficult and ungratifying experience. Because of this and other behavioral barriers like the ones we uncovered in Mexico, it should come as no surprise that most people … Read more.
Apr 26, 2016 by Andrew Fertig
For most Americans, in addition to warmer weather, Spring means tax season. Compiling a year’s worth of financial records can be a tedious and confusing task, but it can also be a time of reflection—to thoughtfully consider how we used our money, and where there might be some room for improvement. We’re also able to … Read more.
Apr 14, 2016
Every year, hundreds of thousands of low-level tickets, known as summonses, are issued in New York City. Police officers use them for an array of non-arrestable offenses like riding a bike on the sidewalk, littering, or consuming alcohol in public, many of these tickets can only be resolved by showing up to court on an … Read more.