Researchers in the Netherlands wanted to find out whether people with a low savings amount would start saving more if they knew they saved less than others in their neighborhood. Providing such info is referred to as a social norm nudge. Such nudges signal appropriate behavior and are classed as behavioral expectations or rules within … Continue reading If You Knew You Had Less in Savings Than Your Neighbors, Would You Start Saving More?
I'll admit it. Over the years there have been times when students have asked me a question to which I didn't quite know the answer, but for some reason, I decided to answer anyway. Sometimes I got lucky and gave the right answer, and sometimes I've given the wrong answer. And sometimes I gave an … Continue reading The Art of Giving an Effective Non-Answer