RAND Behavioral Finance Forum 2017

Two jars of coins labelled 'now' and 'future'

Photo by thekob5123 / Adobe Stock

Theme: Promoting Consumer Competence in Financial Decision-Making
Date: Tuesday, October 24, 2017
Time: 8:30 a.m. – 5:15 p.m. ET
Location: The Pew Charitable Trusts
901 E Conference Center
901 E Street, NW
Washington, D.C.

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

About BeFi

The RAND Behavioral Finance (BeFi) Forum brings together academic, financial, and government leaders to share cutting-edge behavioral research in financial decisionmaking and related topics through an annual conference and webinar series.

This year's forum will focus on financial decision-making as it relates to aging, debt and credit, retirement planning, and investments and disclosure. Presentations include a mix of studies from academics, policy makers, and industry working to better understand financial decisions.

Wändi Bruine de Bruin

Wändi Bruine de Bruin

Professor of Behavioral Decision Making,
Center for Decision Research, Leeds University Business School
Topic: Aging and Decision-Making Competence

Brigitte Madrian

Brigitte Madrian

Aetna Professor of Public Policy and Corporate Management, the Harvard Kennedy School
Topic: Borrowing to Save? The Impact of Automatic Enrollment on Debt

BeFi Forum Program

Agenda is subject to change. All times are Eastern.

CONTINENTAL BREAKFAST

8:30 - 9:00 a.m.

WELCOME

RAND Corporation and the Pew Charitable Trusts

9:00 - 9:15 a.m.

KEYNOTE ADDRESS

9:15 - 10:15 a.m.

 

Aging and Decision-Making Competence
Wändi Bruine de Bruin, Leeds University Business School

 

BREAK

10:15 - 10:30 a.m.

SESSION I

Using Behavioral Insights to Support Retirement Planning

10:30 - 11:45 a.m.

Costly Zero Bias in Target Retirement Fund Choice
Xiao Liu, New York University

A Community Based Randomized Controlled Trial on an Educational Intervention “YoPlaneoMiRetiro” to Promote Retirement Saving Among Hispanics
Luisa Blanco, Pepperdine University

Improving engagement with pension decisions: evidence from a randomised controlled trial
Elisabeth Costa, The Behavioral Insights Team


Discussant: Melissa Knoll, Consumer Financial Protection Bureau

BREAK

11:45 - 12:15 p.m.

LUNCH SPEAKER

12:15 - 1:00 p.m.

 

Borrowing to Save? The Impact of Automatic Enrollment on Debt
Brigitte Madrian, Harvard Kennedy School

SESSION II

Consumer Credit Behavior

1:00 - 2:15 p.m.

Status Goods: Experimental Evidence from Platinum Credit Cards
Martin Kanz, World Bank

Do Prize-Linked Incentives Promote Positive Financial Behavior? Evidence from a Debt Reduction Intervention
Jeremy Burke University of Southern California

Don't Watch Me Read: Effects of Mandatory Waiting Periods and Observer Presence on Consumer Responses to Disclosures
Alycia Chin, Consumer Financial Protection Bureau


Discussant: Clinton Key, The Pew Charitable Trusts

BREAK

2:15 - 2:30 p.m.

SESSION III

Providing Information to Consumers

2:30 - 3:45 p.m.

Does Changing How Fees Are Displayed Nudge Investors Away From Overpriced Index ETFs?: Evidence from Two Experiments
Ray Sin, Morningstar, Inc.

Competing Methods of Informing Student Borrowers: A Randomized Field Experiment at a For-profit Online University
Drew Anderson, RAND Corporation

Learning and Confirmation Bias: Measuring the Impact of First Impressions and Ambiguous Signals
Julie Agnew, College of William and Mary


Discussant: Angela Hung, RAND Corporation

BREAK

3:45 - 4:00 p.m.

SESSION IV

The Impact of Peers on Financial Decisions

4:00 - 5:15 p.m.

Peer Advice on Financial Decisions: A case of the blind leading the blind?
Sandro Ambuehl, University of Toronto

Raising Anchor for Behavioral Interventions: Evidence in Favor of Peer Effects
Pieter Verhallen, Maastricht University

Prompting Savings Behavior through Social Comparison
Martina Raue, Massachusetts Institute of Technology


Discussant: Katherine Carman, RAND Corporation

CLOSING REMARKS

5:15 p.m.

Register for this Program

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