RAND Behavioral Finance Forum Fall 2016

In partnership with the World Bank Global INsights Initiative (GINI)

A boy putting a coin into a savings jar

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Theme: Innovative Applications of Behavioral Economics in Consumer and Government Decisionmaking: Global Evidence
Date: Monday, November 14, 2016
Time: 8:30 a.m. – 5:00 p.m. ET
Location: World Bank Group Headquarters
Main Complex (MC Building)
1818 H St NW
Washington, D.C. 20433
Keynote Speaker: Nobel Laureate George Akerlof
Webcast: http://www.worldbank.org/en/news/video/2016/11/14/rand-gini-behavioral-finance-forum

About the Event

Since 2008, the RAND Behavioral Finance (BeFi) Forum has provided a platform for the academic community to present cutting-edge financial and economic behavioral decision making research. By convening policymakers, practitioners, and researchers, RAND facilitates the behavioral finance and economic discourse to improve decision making and outcomes. This year's forum will focus on innovative applications of behavioral insights used to improve consumer welfare as well as to help overcome challenges facing societies, governments, and regulators around the world. A special spotlight panel, consisting of industry professionals, will detail how technology companies are incorporating experimental testing and behavioral insights into their products.

This event has passed. For information about future events, please contact befi@rand.org.

BeFi Conference Agenda

Agenda is subject to change. All times are Eastern.


8:30 - 9:00 a.m.

WELCOME RAND Corporation and the World Bank Global INsights Initiative (GINI)

9:00 - 9:15 a.m.


9:15 - 10:00 a.m.


George Akerlof, Professor, Georgetown University, Nobel Laureate in Economics, 2001; Author, Phishing for Phools: The Economics of Manipulation and Deception


Introduction:   Julian Jamison, Behavioral Economist, World Bank Global INsights Initiative (GINI)


10:00 - 10:15 a.m.


Consumer Finance: Behavioral Approaches to Improving Credit Health

10:15 - 11:45 a.m.

An Evaluation of the Impacts of Two “Rules of Thumb” for Credit Card Revolvers
Brett Theodos, Urban Institute

Building Financial Health Among the Economically Vulnerable: Evaluation of a Credit Building Loan Product
Jeremy Burke, RAND Corporation

"If you are going to pay within the next 24 hours, press 1": Minimalist planning prompt reduces credit card delinquency
Nina Mazar, World Bank Global INsights Initiative (GINI)

The Effect of Text Reminders and APR Information on Creditworthiness in the United States
Anat Bracha, Federal Reserve Bank of Boston

Discussant:   Katherine Carman, RAND Corporation

Moderator:   Salar Jahedi, senior economist, Amazon; Director, RAND BeFi Forum


11:45 - 12:15 p.m.


12:15 - 1:15 p.m.


Applying Social Science: Stories from the Field and Visions for the Future

Paul Cohen, One Medical
Kelvin Kwong, Jawbone
Kristen Berman, Common Cents Lab

Moderator: Michael Norton, Harvard Business School



1:15 - 1:30 p.m.


Global Evidence on Behavioral Approaches to Financial Decisionmaking

1:30 - 3:00 p.m.

Moral Incentives: Experimental Evidence from Repayments of an Islamic Credit Card
Martin Kanz, World Bank

Incentives, Cues and Habit Formation
Margaret McConnell, Harvard T.H. Chan School of Public Health

Materially Poor but Socially Rich: How Community Trust Protects Low-Income Groups from Myopic Decisions
Jon M. Jachimowicz, Columbia Business School

Using interactive SMS and behaviorally-informed messaging to increase activity in mobile banking
Maria Fernandez Vidal, Consultative Group to Assist the Poor (CGAP)

Discussant: Alexandra Fiorillo, GRID Impact

Moderator: Nina Mazar, Senior Behavioral Scientist World Bank Global INsights Initiative (GINI)


3:00 - 3:15 p.m.


Industry Innovation, Government Programs, and Regulation

3:15 - 4:45 p.m.

Liquidity Constraints and Budgeting Mistakes: Evidence from Social Security Recipients
Jialan Wang, University of Illinois at Urbana-Champaign

Attention, search and switching: Evidence on mandated disclosure from the savings market
Redis Zaliauskas, UK Financial Conduct Authority

Tools for Saving: Using Prepaid Cards to Set Aside Funds
Melissa Knoll, Consumer Financial Protection Bureau

Identity Theft as a Teachable Moment
Vyacheslav Mikhed, Federal Reserve Bank of Philadelphia

Discussant: Angela Hung, RAND Corporation

Moderator: Krishna Kumar, Director, RAND Labor and Population


4:45 - 5:00 p.m.

Further Inquiries

Contact befi@rand.org.