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- Title
Nudging the financial market? A review of the nudge theory.
- Authors
Cai, Cynthia Weiyi
- Abstract
A systematic review of the nudge literature and an examination of its applications across different domains reveals that: (i) a nudge, in the sense of using choice architecture to push people to choose desired results, works well; and (ii) a nudge, in the sense of pushing people to choose desired results so that people will be better off, remains questionable. In financial markets, regulators and financial intermediaries currently use nudge theory to: (i) adjust how investment choices are presented to investors; and (ii) provide information in a selective way. Besides nudging investors, it is also possible for regulators to nudge financial intermediaries towards making more ethical decisions.
- Subjects
NUDGE theory; FINANCIAL markets; FINANCIAL institutions
- Publication
Accounting & Finance, 2020, Vol 60, Issue 4, p3341
- ISSN
0810-5391
- Publication type
Article
- DOI
10.1111/acfi.12471