Decision Sciences
3 years ago

Nudges Bridge Socioeconomic Gaps, Boosting Choices for Lower-Income Consumers

1 view
Do Nudges Reduce Disparities? Choice Architecture Compensates for Low Consumer Knowledge and SES
Kellen Mrkva, Nathaniel A. Posner, Crystal Reeck, Eric J. Johnson

Paper Summary

Nudges, like subtle hints, can help people make better choices. People with less money, knowledge, and math skills benefit more from nudges. Good nudges help everyone, but especially those with lower SES and less financial knowledge. Bad nudges make things worse for everyone. Nudges can reduce gaps in choices between different groups of people.

Related papers

Business, Management and Accounting
4 years ago

Future-focused individuals more likely to seek financial education, study finds.

Retirement Planning
Credit Expansion
Health Care Expenditure
Decision Sciences
4 years ago

Communication in Social Settings Increases Risk-Aversion, Study Finds.

Behavioral Economics
Economic Behavior
Credit Expansion
Economics, Econometrics and Finance
5 years ago

Data protection drives moral acceptability of big data technologies across domains.

Discrete Choice
Privacy Concerns
Behavior Change