Behavioral research has fundamentally changed the field of economics by putting it on an experimental basis (Camerer, Loewenstein, and Rabin, 2004; Gintis, 2006). The climate change challenge is unique compared to other challenges that we face as it involves changing the organizing principle of the economy. The CO 2 levels were well under control for … Continue reading Can Behavioral Intervention help overcome Climate Change?
Venezuela’s collective memory does not forget – especially now in the middle of the worst economic crisis in its history - the famous saying “It is cheap, give me two”. It is an expression that became popular during the “Saudi Venezuela” era (1974-1979) and it was of common use again in 2006 during the boom … Continue reading Live now, save tomorrow: how behavioral biases affect retirement savings in Latin America
One of the most common problem among poor is their ability to save in each possible stage for contingency. The presence of temptations and present bias often derail them from this goal. Thus sticking to a course of action has an important significance in the presence of immediate pressures in this era. In standard model … Continue reading How can the poor save more using commitment devices ?
There ain't no such thing as a free risk. However, when the lower class witnessed the economical development and boom of their country and were also dreaming of the life style of the rich, will they take risk to get a free lunch? When we try to recall the cause of the financial crisis ten years … Continue reading Development Trap, Moral Trap!
Throughout the scientific concern of whether happiness is influenced by the amount of money owned remains an opened question. Basic economic literature suggests that citizens of richer countries should experience higher level of happiness, due to the possible "positive" relationship between income and happiness. Furthermore, happiness is measured in terms of utiles, resulting in the … Continue reading Could happiness be measured in terms of income and poverty?
A number of studies have long been studied to analyze the effects of reminders in the context of different relevant settings such as economic decisions making process, and rule of compliance, and also their potential influence on desirable behavioral change. In this regards, one could questions, do reminders influence behavior? , if so ,to what … Continue reading Nudges: Do reminders influence behavior?
More than a century ago, Durkheim (1893) pointed out an interesting connection between individual personality and social solidarity. That is the more individualistic, people depends ever more closely upon society. In recent researches, socialist and economist explained the phenomenon from different perspectives. Jüri Allik and Anu Realo (2004) supported the view of Durkheim by empirically … Continue reading Individualism and social capital
Corruption, which is defined as the abuse of entrusted power and authority undertaken by an individual to gain benefits for him/herself or the group that the individual belongs to (Transparency International, n.d.), is a social crime that exists in every nation over centuries and will continue to exist. It includes activities such as bribery, embezzlement, … Continue reading Can corruption be moderated by formal institutions?
While the popular narrative suggests that, career choice is an individual decision, research indicates a broad range of issues that are most likely to determine one’s ultimate career choice. Family structure, values and parents have been found to be amongst the top influences that molds the thinking and the behavior of adolescents towards choosing their … Continue reading Family Influence and Career Choice: What is the impact of family influence on the career decision of adolescents?
A friend working in an NGO “Teach for Pakistan” told me “I love these kids and they have so much potential, but sometimes I think I am not getting anywhere with them” “What do you mean” I asked. “They don’t care about school, they lack motivation and are so careless; it’s difficult to change their … Continue reading Do Culture and Poverty move hand in hand?