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- Blog
- 26th May 2016
Applying behavioural insights to regulated markets
It’s clear that regulated markets are not currently delivering the best outcomes for UK consumers. In the UK, we are collectively overpaying for mobile phone contracts by £355 million a year and almost 9.5 million households would be able to save over £300 each year by switching energy provider. In…
- Blog
- 15th Dec 2016
Behavioural finance in the Lab
Some of the earliest and most impressive applications of behavioural science focused on helping people to save for their retirement. In particular, there is the pioneering work of Brigitte Madrian, David Laibson, John Beshears and James Choi demonstrating the impact of automatically enrolling employees into workplace pension plans, and Richard…
- Blog
- 14th Oct 2017
Helping more people take up free pension guidance: new results
With most people spending at least 25 years in retirement, deciding what to do with your pension pot is one of the most significant financial decisions you can make. And yet it is also one of the most complicated. Today we are publishing the results of three randomised control trials…
- Blog
- 27th Nov 2017
The UK's new Industrial Strategy: a modern foundation for economic growth
Traditionally, Industrial Strategy conjures images of furnaces and molten metal. In turn, the language of economic policy - productivity, innovation, competitive advantage, regulation - hardly sparks the imagination. Today’s launch of the UK Government’s Industrial Strategy White Paper should help shift these perceptions. The Strategy is formed around five foundations…
- Blog
- 12th Feb 2018
One letter that triples energy switching
In the UK, 9.5 million households can save over £300 a year by switching energy supplier. For many people that is a substantial boost to their household budget, and yet in a survey of UK consumers, the Competition and Markets Authority (CMA) found that 34% of respondents had never considered…
- Blog
- 12th Apr 2018
Modernising consumer markets: the Consumer Green Paper
At BIT, we are passionate about ensuring that consumers benefit from well-functioning markets — from better deals to higher quality services. We want governments, regulators and businesses to, in Richard Thaler’s phrase, ‘nudge for good’. The UK Government’s Consumer Green Paper, published yesterday, encourages just that. The Green Paper is…
- Blog
- 10th May 2018
A behavioural approach to managing money: Ideas and results from the Financial Capability Lab
Today we publish a major report detailing the results of our Financial Capability Lab partnership with the Money Advice Service (MAS) and Ipsos MORI. Some of the early Lab results exploring how credit card terms and conditions could be better explained to customers were published in the Government’s recent Consumer…
- Blog
- 21st Jun 2018
The minefield of modern dating: why businesses need to up their game on the small print
Putting your photo and personal information on an online dating site is a hopeful act, whether you’re looking for a lifelong companion or something more… short term. It’s also a show of trust - and not just between you and your fellow users. You are putting your trust in the…
- Blog
- 10th Sep 2018
How new number plates could green Britain's roads
Yesterday Chris Grayling announced a consultation on green number plates as part of efforts to increase ownership of zero emission vehicles and cut Britain’s carbon emissions. The idea, already implemented in countries like Norway, Canada, and China, would make electric and hydrogen cars much more visible on our roads. We…
- Blog
- 15th Nov 2018
Monzo and the Financial Capability Lab: a new partnership to help people manage their spending
Support for the one in four Britons who are 'financially squeezed'