Presenting to you our newly rebranded newsletter ‘The Behavioural Science Digest’. Different name but the same high-quality content in your inboxes.
Nudgeathon’23, the hybrid Behavioural Science hackathon, will be organised by a collaborative effort with our partner organisations on 12 August ‘23. The applications are open to student teams of 3, is free and will close on 7 August ‘23.
Managing finances is never an easy task, doesn’t matter if you are a recent graduate or a professional with decades of experience. Therefore, this time around we have decided to explore what behavioural science says about managing personal finances. To begin with, read Improving financial wellbeing using behavioral science to understand the existing intention-action gap and how to overcome it.
Follow this with Behavioural Science on Personal Finance to know what can be found in the behavioural science literature about personal finance habits. One thing the previous article captures is how bad we are at estimating expenses and hence how helpful finance apps can be. Thus, next we recommend you read How Using Behavioral Science In Fintech Can Change How Individuals And Couples Save Money to read about an app that does just that.
Lastly, have a look at How behavioral science enables better savings habits to explore how the interaction of numerous effects including inflation, workload, and lack of financial products can make saving a difficult task for individuals.
What works to change attitude towards disabled people
Discover the most effective strategies to improve attitudes towards disabled people in mass media campaigns. A study involving over 5,000 participants found that messages emphasizing shared activities, using humor, and promoting behavior change were impactful. Encouraging perspective-taking and positive representation of disabled individuals proved particularly successful. However, caution is advised when discussing injustice and relying solely on facts and figures.
The ChatGPT Effect: How Will Our Skillset Evolve in the Age of AI?
Are we becoming too reliant on AI language models like ChatGPT? Discover the potential risks of outsourcing our writing and ideation skills to AI and the importance of preserving our abilities in the face of technological advancements.
Make Doing Nothing the Default
The bias towards action is a major problem for investors, despite evidence showing that in many cases, doing less leads to better outcomes. The pressure to constantly react, justify careers, and tell stories drives unnecessary trading. Instead, investors should question why they are making changes and embrace the benefits of doing less.
The Paradox of Pleasure
Human beings are wired to value immediate rewards over better rewards that are delayed. This is the basis of understanding addiction related behaviours. However, in this episode of Hidden Brain, esteemed psychiatrist Anna Lembke points out that addiction exists all around us and sometimes for things which may seem harmless in the beginning. She goes on to explain the neuroscience behind addiction, shedding light on the internal processes that result in addictive behaviours. This is a highly informative podcast that will help you understand addiction from a more comprehensive lens.
What the Best Leaders Know - and What Skills They Develop
Business leaders are known to have their own persona. They are at the forefront of their organisation, facing challenges daily and making consequential decisions routinely. Is there something that all business leaders at the top of their game have in common? This is exactly the question this podcast by the Harvard Business Review aims to answer. The guest on this episode is Adam Bryant who has interviewed hundreds of business and industry leaders and shares with us on this podcast, the habits, the mindset and the attributes, these changemakers have. Listen to know more!
Brought to you by India Behavioural Economics Network (Facebook | LinkedIn | Twitter) and BeyondNudge consulting (Instagram | LinkedIn | Twitter)
Editors: Nehal Kaul, Junofy Anto Rozarina
Contributors: Abhishek Chauhan, Manvi Agrawal