World Bank Group World Bank Group
In Partnership with Republic of Korea Ministry of Strategy and Finance

Integrating Behavioral Research into Financial Consumer Protection Policy making

Integrating Behavioral Research into Financial Consumer Protection Policy making
Crucially, behavioral science can improve program design at the highest level—impacting policy maker biases and regulation. As Alexandra Fiorillo with CGAP described, to design inclusive policy, you have to unpack your own biases and judgements about consumers. Her team worked to find ways to help policymakers unravel their assumptions and judgments about consumer behavior, rather than simply offering basic training in behavioral science. By involving the policymakers in the behavioral research process, creating opportunities for them to interact with consumers and teaching them about behavioral biases, her team both improved the design process for important consumer protection programs and built capacity among their policy counterparts.
  • Learning Mode: 
    Video
  • Topics: Behavior Change, Behavioral Design and Poverty, Behavioral Initiatives for Poverty Reduction and Equity, Consumer Protection, Financial Consumer Protection
  • keywords: 
    Behavioral Research, Behavioral, Research, Behavior, behavioral science, Financial Consumer Protection Policy making, Financial Consumer Protection Policy, Policy-Making, Policy, financial, Consumer protection, Program Design, policy maker, biases, Regulation, judgement, consumers, consumer behavior, Training
  • Length: 
    5.30

Printed on:2 July 2022 - 12:19 AM