Event Overview
Sunstein’s book Nudge, co-authored by Richard Thaler, is about the potential for behavioral economics to improve the effectiveness of decision makers. The idea of “nudging” is based on research that shows it is possible to steer people towards better decisions by presenting choices in different ways. Nudge discusses how public and private organizations can help people make better choices in their daily lives.
Panels
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Nudge for Impact: The application of behavioral science for social impact
Philanthropy has a strong role to play in solving some of the biggest global health and development challenges around the world. It can have an immensely positive impact for both people who are giving and the beneficiaries.
India is witnessing an increase in giving, and new giving philosophies among India’s new generation of leaders are improving the quality of giving in India. These new philosophies are propelled by measurable goals, an increasing openness towards the role of philanthropy in advancing development, and an increasing awareness of the social responsibility of wealth holders.
This discussion focuses on how to inspire and enable informed and intentional philanthropy, including how to incentivize giving, how to make giving easier and more intuitive, how foundations can better position themselves to appeal to donors, and the need to focus on the impact of philanthropic contributions.
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Nudge for Increasing Uptake and Usage: The application of behavioral science for increasing usage of digital financial services by the poor and women
Increasing access to banks and financial services for the most vulnerable can reduce poverty. Ensuring that financial transactions are safer, quicker, and cheaper can increase adoption of digital financial services and enable households and businesses to build financial stability. However, there are systemic and perceived barriers for those living in poverty that inhibit access to these services. Financial services must be customer-centric, and providers must work to establish trust and a sense of security among their low-income clients.
This session focuses on how to improve everyday use of financial services by applying behavior science, including how to incentivize use of digital financial services, how to make those services easier and more intuitive, how to position these services as a public good, and how institutions can think about their role in the financial ecosystem.
