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Boosting and nudging: Two paths toward better financial decisions
KTH, School of Architecture and the Built Environment (ABE), Philosophy and History.ORCID iD: 0000-0002-6727-8723
2021 (English)In: Financial Education and Risk Literacy, Edward Elgar Publishing Ltd. , 2021, p. 150-180Chapter in book (Other academic)
Abstract [en]

Increasingly, policymakers are using insights from psychology and behavioral economics into how people make decisions to inform evidenc-based policy interventions. To date, much of the focus has been on nudges: interventions designed to steer people in a particular direction while preserving their freedom of choice. Yet behavioral science also provides support for a distinct kind of nonfiscal, noncoercive intervention: boosts. The objective of boosts is to foster people’s competence to make their own choices. We explore various dimensions on which boosts differ from nudges, address possible misconceptions, and provide a taxonomy of boosts. We then review and outline boosts that have been proposed and designed to foster people’s competences to make sound finanical decisions.

Place, publisher, year, edition, pages
Edward Elgar Publishing Ltd. , 2021. p. 150-180
National Category
Business Administration
Identifiers
URN: urn:nbn:se:kth:diva-316196Scopus ID: 2-s2.0-85129786678OAI: oai:DiVA.org:kth-316196DiVA, id: diva2:1694525
Note

Part of book: ISBN 978-1-78990-885-5, ISBN 978-1-78990-884-8

QC 20220909

Available from: 2022-09-09 Created: 2022-09-09 Last updated: 2023-01-17Bibliographically approved

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Grüne-Yanoff, Till

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CiteExportLink to record
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Citation style
  • apa
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  • Other locale
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  • asciidoc
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