What kind of personality best describes you as an investor? Financial coaching (2) Our different personality traits and preferences, along with a wide range of behavior with emotional and cognitive biases, have a strong impact on the way that we invest. The following are the ten worst errors of beginner investors. The idea that our money works […]
Coaching is also financial (1) Financial coaching is emerging as a differentiated approach to develop financial skills. It is a process that helps people to define financial goals and implement action plans. Financial coaching is currently developing and facing several challenges, including the lack of evidence in the practice. The development of financial coaching will […]
Financial inclusion can be improved by nudges. We can give a hand to our decision-making. Yes, people can. You can improve financial inclusion by nudges in a country like Afghanistan, in which only 10% of Afghans have a Bank account to save in. With the help of behavioral economics a savings product has been designed. M-pasandaz (“M-saving” in Dari) automatically and through mobile […]
Everybody has de right to disconnect. Whay then can´t we stop shecking our emails? Dopamine, herding, present bias, regret… can all be reasons for our constant connectivity. The world of work is constantly being changed by digital technologies. Bahavioral patterns, the traditional workplace itself doesn´t always exist. Employees are more and more connected outside work […]
Way do we like doing some things, but not when we are paid to do them? We live in two diferent worlds simultaneously. One in wich social norms prevail and the other where mercantile norms provide the guidelines. Social essence is in our social norms, our need to communicate with each other. They do not […]
The Save More Tomorrow, SMarT Plan, by Sholomo Benarzti and Richard Thaler, 2004, proposed a way to deal with the problems of retirement savings. No matter what we do, we are all in organizations pursuing changes in people’s behavior. This is the decision process in order to save for retirement. Analyzing the process we can […]
Availability heuristic. What is the frequency of a category? if their retrieval is easy and fluid, the category will be judged extensive. In 2009 the so-called influenza A (H1N1) pandemic began in Spain and lasted until april 2010 when data were las updated. More than 1,500 cases were officially confirmed and approximately 300 people died. […]
We live in the present, we are temporary discounters. We live our own cognitive biases: present, self-control, optimism, inertia, herd effect … There are proposals that emerge from Behavioral Economics that will help us to make the optimal decisions for us. And we are going to talk about our future and make it a reality. […]
Money and time are scarce resources that people think would bring them greater happiness. In all probability, the main shared cause of dissatisfaction is lack of time, for those who are fortunate to have money because they have a job. People want to play for time and to make money, but unfortunately there is not […]
Let me get you into Behavioral Economics (BE). With a preamble about a jewel that I found this summer at my parent’s home. Among my high school and University papers was an article that I had kept of Kahneman and Tverski in 1986! These two people are recognized in the world as precursors of what […]
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