Experimental seminar: Choice Architecture to Improve Financial Decision Making – School of Economics Experimental seminar: Choice Architecture to Improve Financial Decision Making – School of Economics

Experimental seminar: Choice Architecture to Improve Financial Decision Making

The School of Economics would like to invite you an experimental seminar by Emiliano Heut-Vaughn (UCLA) with with Jeff CarpenterPeter MatthewsAndrea RobbettDustin Beckett, and Julian Jamison

Abstract

We exploit the principles of choice architecture to evaluate interventions in the market for reloadable prepaid cards. Participants are randomized into three card menu presentation treatments – the market status quo, a regulation-inspired reform, or an enhanced reform designed to minimize attribute overload – and offered choices based on prior structural estimation of individual preferences. Consumers routinely choose incorrectly under the status quo, with tentative evidence the regulation-inspired presentation may increase best card choice, and clear evidence the enhanced reform reduces worst card choice. Welfare analysis suggests the regulation-inspired presentation offers modest gains, while minimizing attribute overload generates substantial benefits

 

Date

Mar 26 2019
Expired!

Time

12:00 pm - 1:00 pm

Cost

Free

Location

Room 650, Social Sciences Building (A02)
Category

Organizer

Dave Mc Manamon
Phone
93514587
Email
dave.mcmanamon@sydney.edu.au

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