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The New York Times: Britain’s Ministry of Nudges

Can seemingly small policy interventions change behavior in ways that are good for both individuals and society? The answer is yes if you judge by the track record of the UK’s Behavioral Insights Team. And it’s a concept with roots in America.

 

A pension strategy that’s worth the wait

People seriously underestimate the benefit of delaying Social Security, when it’s usually the smartest course of action. In this Financial Times column, Professor Shlomo Benartzi makes the case for waiting longer using a strategy he calls “Claim More Tomorrow”.

 

The simple question that will encourage saving

What happens to employees who opt out of defined contribution plans? In this Financial Times column, the Center’s chief behavioral economist Shlomo Benartzi presents a simple yet powerful idea that converts them into savers. And it’s as simple as choosing between chocolates and bananas. more...

Topics

Why Standard Risk Measurements Don't Add Up
For most people, bad surprises loom larger than good ones, but that fact is missing from risk measures like standard deviation. In a new paper, the Center for Behavioral Finance investigates how people perceive risk and what it means for investors.
Curing Investment Paralysis
To ease volatility-averse clients off the sidelines, advisors might consider an "Invest More Tomorrow" strategy.
Bound to Plan
A Ulysses strategy can help clients ride out market volatility by asking them to pre-commit to a rational investment plan.
Appealing to Retirement Investors
"Framing" retirement solutions in terms of income, rather than investment returns, can have a remarkable impact on their attractiveness to investors.
Save More Tomorrow
A proven program using behavioral finance to help people save more for retirement by getting them to pre-commit to it today.