Behavioral Public Policy and Economics GmbH
What is the most effective policy instrument to encourage long-term use of public transport? To answer this question, Gravert and Collentine (2021) collaborated with a local transport agency in Southern Sweden on a large-scale field experiment.
Social norms are the unwritten rules of societies. As social creatures, we have learned to internalize these rules to reduce uncertainty in social interactions, avoid sanctioning, and increase our sense of belonging and identity. Therefore, information that emphasizes a social norm can potentially alter individual behavior, for better or for worse.
Unexpected events like the Covid-19 pandemic or crises in the banking sectors regularly drive investors into panic selling. The typical “buy-high, sell-low” pattern emerging from panic selling does not only harm private investors’ financial health but also increases the chances of market crashes. Finding effective means to combat panic selling is therefore of vital importance to regulators, financial institutions, and other market actors.
A newly published article by de Ridder et al. (2021) investigates what makes people ‘nudgeable’, i.e. receptive to nudge interventions. They argue that nudgeability depends on the strength of preexisting preferences.
Limited-time offers have long been used by salespeople and marketers to lure customers to snatch up bargains. The less time customers have to think, one might assume, the more likely it is that they make an impulsive purchase and stop looking for alternatives.
With the rise of humanitarian emergencies in the world, we are more than ever in need of global solidarity. What can we do to help foster prosocial behavior and increase donations for disaster relief? Here are some tips and examples for marketers, CSR professionals, and decision-makers.
The number of people who do not show up to their COVID-19 vaccination appointments in Germany is increasing. Decision-makers are now discussing fines for people who do not show up on time. The idea is that fines would reduce the number of no-shows. But is this really what we can expect?