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The Power of Heuristics: New white paper from ideas42
In a new paper by ideas42, Antoinette Schoar and Saugato Datta argue that using heuristics (effective rules of thumb) can “enable people to make ‘reasonably good’ decisions without needing to understand all the complex nuances of the situation.” ideas42 is building on their findings to develop financial heuristics programs for microentrepreneurs around the globe.
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- Education
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Respect Quality, Build Trust, Be Patient: These and other tips on shaping a solar market at the BoP
How do you influence what choices low-income people or those living at the base of the pyramid make? And how can you give them the information to make informed decisions?
SolarAid faced the same challenges that many organisations do when bringing a new technology to a low-income market. Here’s how we dealt with them.- Categories
- Energy
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Ask the Right Question: ideas42 on using behavioral economics for MFI product design
CARD Bank seemed to have a problem increasing uptake on new savings accounts. But when ideas42 dug into the data, they saw that people were opening plenty of new accounts - they just weren’t using them. The lesson: it’s important to ask the right question when solving design problems. Louis Potok uses this case to illustrate how behavioral economics insights can improve product design.
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- Uncategorized
