Irrational Insights

Behavioural Economics for Business

[Irrational Insights @irrationalbird]

The team I work with at the @FSCB_UK are recruiting for a Senior Behavioural Scientist.

Interested in using BSci methods to improve culture and conduct in financial services?

Take a look: https://t.co/dxCIpzHR7u

Please share with BSci contacts
@besci_jobs

[Irrational Insights @irrationalbird]

Ageing, dying and annuities: it's got it all

[Irrational Insights @irrationalbird]

@neilbage redefine your cateogries as "hodge" and "podge" then shove both in the kitchen drawer defined as "stuff"

when 1>4

it's science, innit?

[Irrational Insights @irrationalbird]

@ahumey @donalcronin @eimearhurley @sodonnellnews @jonnyfallon Islay is always the answer, doesn't matter what the qeustion is.

[Irrational Insights @irrationalbird]

@daniel_egan App that says "you need to leave now" for the airport based on travel conditions on the tube, congestion, security delays etc, and that tells me which travel option to use. Even better if it inc's my hatred for hanging around airports and my gate no so I can walk thru & on.

[The Conversation @ConversationUK]

Pension freedoms is one of the worst policy blunders in recent times, but the political parties are all ignoring it, researcher warns.

#GE2019 https://t.co/skIxsqJxUH

[Irrational Insights @irrationalbird]

the gap between what you *think* you're measuring, and what you're *actually* measuring.

[Jean Adams @jeanmadams]

Meeting with people from the Tromso study. When they used wrist worn accelerometers in northern Norway they had some rather unusual prolonged periods of rapid movement. Finally attributed to #knitting They know how to knit in Tromso.

[Irrational Insights @irrationalbird]

@ahumey No. Thanksgiving is the last Thurs in Nov and Black Friday the following day. But it's a bit like birthdays. Why only have a day when you can have a week, or maybe stretch it to a month? Or could just be the last desperate call of a retail sector sliding towards armageddon.

[Abigail Marsh @aa_marsh]

In 2013 my PhD mentor Nalini Ambady died of leukemia. A bone marrow transplant could have saved her. Sadly, several of the people identified as potential matches for her decided not to donate after all when they were approached by @BeTheMatch @NationalMarrow 1/

[Paul Lewis @paullewismoney]

Discrimination against women is at the heart of auto-enrolment https://t.co/CUZi4ZoQor embedded in its five cons: 8% contributions, everyone in work in, employers pay a lot, tax relief for all, adequate for a pension.

[Irrational Insights @irrationalbird]

Would it be unethical to run this type of app but just habitually put people's cash into a nice wee low fee tracker fund behind the scenes?

If signing up for this sh1te is a signal that you really need to be protected from yourself, it'd be ok, no?

oh. regulation. not ok.

[Human Mel @melhuman]

I did it. I found the worst app in the world

[Irrational Insights @irrationalbird]

@ovationchris @FinWellbeing Hate the phrase and think it probably says more about the subject than the object. If we don't see social proof that people are inherently good then we start to think it's normal to be mean and selfish. Still like to be an anonymous donator though!

[Irrational Insights @irrationalbird]

@danielcrosby Enough is as good as a feast

[Irrational Insights @irrationalbird]

@McnabGareth @joeAlane Part of the problem is that these products are so long-term that you can ignore eg a pension from your 20s for 30 years without it feeling like a high risk move. In light of that DAS feels pretty punitive.

[Irrational Insights @irrationalbird]

@Adam_Xentum Answer: spreadsheets, analysis of options, discussion with husband, optimisation across boundaries and constraints.

Reality: wine, aborted analysis because there's too many options, more wine, argument and somehow a decision arrives that I will post-rationalise to the death.

[Cory Smith @politicory]

With the (*extremely* well-deserved) econ Nobel given to Duflo, Banerjee, and Kremer for pioneering RCTs in development economics, there's been a resurgence of RCT pushback pieces. As a development economist who does NOT use RCTs, I've found these critiques quite strange tbh

[Irrational Insights @irrationalbird]

@danbenyork Does the driver get a mute the rider button?

[Irrational Insights @irrationalbird]

@juliagalef It's oft considered irrational for people to have both low-rate savings & high cost credit card debt. It's rational when you consider liquidity constraints, that family, friends and schools don't take cards and that credit card cos can unilaterally impose credit limit decreases.

[Irrational Insights @irrationalbird]

So this chart is pretty depressing, but it's worth clicking through to read the article because it gets worse. The texts that informed this feed the algos that are used when AI is used in recruitment. Plus side: it can be mitigated if you know about it.