Ideas from the Field of Behavioral Finance

June 05, 2012 at 11:30 AM

The RAND Behavioral Finance Forum was held last week in Washington, DC. A number of interesting academic findings and tools were presented from the field of behavioral finance that may be useful to industry executives and policy makers. Among the subjects addressed were:

  • Tactics to encourage people to save;
  • How consumers think about financial security and annuities;
  • Limits of financial disclosure and financial literacy;
  • Developments to encourage retirement savings; and,
  • New (unproven) financial products based on behavior finance.
While some of the concepts presented were based on research that could be classified as exploratory, the conference did include a number of ideas that warranted immediate consideration by banks. I look forward to attending the conference next year.
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