If you didn’t know, now you do -
So, how can you be a more rational investor?
Instead of assuming rational behaviour on our part as investors, we can actually become rational investors. In simple words, be aware of and overcome personal biases while investing. Well, this definitely is easier said than done. To know more about how you can get there, read this Finshots Special article on being a rational investor.
What can animal trackers & jazz musicians teach us about Goals, Risk & Decision Making - How do goals work? Should financial goals be specified precisely or can they be a bit fuzzy? How do risk tolerance, risk capacity come into play while deciding our financial goals? To know more about financial goals and how to optimise them, listen to this episode of Sample of One podcast ft Greg Davies (Listen Here)
Our Article Couple - The future of personalised nudges
Stuart Mills in The future of nudging will be personal and Patrick Fagan in Personalised Nudges: The science of influencing your customers, answer how nudging has aged and how it is expected to mature in the years to come. While Stuart gives a general idea of what has been, what can be, and how; Patrick describes using personalised nudges to influence customers to buy. Together this article couple would give you a complete picture of the theory and application of personalised nudges.
The Three Laws of Human Behaviour
“Every action has an equal and opposite reaction” - In addition to being Newton’s third law of motion, this also used to be a witty warning to our friends goofing around with us. No? Just me? Okay, so talking about Behavioural Science… with great illustrations and examples, Aline Holzwarth presents the three laws of Human Behaviour along the same lines as that of Newton’s.
How Empathizing With Your Future Self Influences Happiness and Economic Decision-Making
We are all myopic. We prefer immediate rewards to future gains, In other words, we sell our future selves short. “Behavioral economists call the ability to predict how you will feel in the future affective forecasting, and we’re generally horrible at it.” This is the hindrance in making our future selves happy, now the solution. PopNeuro can help you figure out how to become more invested in the happiness of your future self.
The Budgeting App Trap: When Spending Information Backfires
FinTech apps are well-intentional apps that allow for real-time recording of our spendings and budget at hand. Managing finance is made easier and a lot more fun than just doing arithmetic. But the road to hell is paved with good intentions, Anastasiya Pocheptsova Ghosh and Liang Huang show that using FinTech apps to track budget can increase spending significantly more than the budgeted amount, particularly at the end of the budget period.
Advertising Ethics: Can Facebook ads swing an election? - Do targeted ads affect us? If so, then how much? How much effect do they have on our mental health, our well-being? To learn more about these and some tips to combat it, listen to this episode by Nudge: Consumer Psychology Podcast, where advertising ethics are discussed with Patrick Fagan. (Listen here)
The Power of Story-Do stories affect our memory? Does it help us see new possibilities in a situation? How can stories play an important part in our decision-making? To know all things story, listen to The Power of Story (ft Dr. Michelle Auerbach) by The Brainy Business Podcast. (Listen here)
Need for Behavioural Science in Indian Policy
Given India is such a layered society, how can we use behaviour science to design and influence policy here? Which tools of behavioural science will have the most impact in a country like India? To know more about it, read this blog, which is a collaborative effort between India Behaviour Economics Network and Rethinking Economics India Network.
Explore. Inform. Nudge. Benefit.
Brought to you by India Behavioural Economics Network
(Website | Facebook | LinkedIn | Twitter)
Editors: Divya Purohit, Simran Odrani, Junofy Anto Rozarina