As the Covid-19 pandemic takes its toll in lives lost and economic hardship, governments in Latin America and the Caribbean have rushed to increase fiscal spending, even as revenues drop. But only some countries will be able to access markets and borrow without sacrificing sustainability in the aftermath of the pandemic. Most will have to identify efficiencies in both revenue … [Read more...] about Leveraging Behavioral Insights in the Aftermath of COVID-19
The number of people infected with the novel coronavirus has surpassed 5 million worldwide. However, a significant number of countries are entering a new phase in the fight against SARS-COV-2, as the virus that causes the Covid-19 illness is known. As can be seen from the following maps prepared using data from Oxford University, restrictions on movement are being relaxed. … [Read more...] about COVID-19: We Must Use Behavioral Science to Communicate Better during the Delicate Reopening Period
Over the last few months, most Latin American and Caribbean countries have been able to flatten the curve of infections thanks to severe restrictions on mobility. The Human Mobility Map for Latin America and the Caribbean shows that the restrictions have worked and citizens are limiting their movements. Argentina saw a decline of almost 54% in the number of people who travel … [Read more...] about How Can Behavioral Economics Improve Our Decision-Making during the Pandemic?
Most of us are biased. We scan the world, making emotional and often automatic judgments about people based on factors like gender, race and socio-economic status. We misjudge people. When it comes to hiring, this can result not only in unfair decisions that penalize deserving candidates, but to more homogenous—and less creative and productive—groups of employees. As we … [Read more...] about Leveraging Behavioral Insights for a More Equitable Workplace
If you are reading this blog, you are most likely a person with limited rationality. If you doubt that, ask yourself, if you have ever over-snoozed your morning alarm or eaten beyond your point of hunger? Humans, as it turns out, often fail to act in their best self-interest. We fail to follow through on intended goals and undervalue, or discount, the importance of the future. … [Read more...] about What Behavioral Economics Can Do for the G20