The Growing Importance of Behavioral Economics in Retirement Saving Plans

Dick Thaler, an economist who helped create the field of behavioral economics, came up with a wonderful idea a long time ago to promote retirement savings, a plan he calls Save More Tomorrow. Among the many clever aspects of his plan is the idea of automatic escalation of people’s retirement contributions. Think of the idea…

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Squat for Your Subway Token: One of the Most Creative Nudges I've Encountered

This idea is so crazy it might just be the best one I’ve heard all week: a subway station in Moscow provides free tickets to commuters who stand in front of a monitor and squat or lunge 30 times. I love this idea. Have any of you heard of any other nudges like this? (Click…

Would Tactics like the New York Soda Ban Work?

Although blocked for now, New York Mayor Michael Bloomberg’s Soda Ban has many wondering what tactics could actually help consumers kick certain bad habits? Threats? Pricing? Bans? Graphic images? What actually works and what role should the government play? I recently had the pleasure of participating in a discussion addressing all these questions. Listen to…

New York's Soda Prohibition Won't Work

New York City’s plan to prohibit the sale of large, sugary soft drinks is a brave and provocative policy, one that promotes public health at minimal cost to New York City residents.
Mayor Michael Bloomberg’s announcement last week highlights the kind of tough regulatory action we, as a society, need to make to combat an obesity epidemic that experts say will cause this generation of elementary school children to be the first in centuries to experience a shorter life span than their parents.
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