Articles by Josh Wright
It’s no secret that saving money is a good idea. But time and time again we see people failing to save for the future, despite their best intentions. A new ideas42 white paper shows the important role that behavioral economics can play in increasing savings rates among the poor.
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.