Finance
Influencing Financial Behavior: From Changing Minds to Changing Contexts
Influencing Financial Behavior: From Changing Minds to Changing Contexts
Paul Dolan, Antony Elliott, Robert Metcalfe, Ivo Vlaev
Traditional interventions that target cognitions (such as attitudes and beliefs) are not always as effective at changing behaviour as rational economic models may suggest. Recent research has investigated the efficacy of changing contexts instead of cognitions. Using financial capability as an example, this paper provides examples of when changing contexts can lead to changes in behaviour.