The new research projects that will help us make a difference

We are excited to announce the 2019 winners of the Think Forward Initiative’s call for research proposals (long-term and short-term).
Posted on December 16, 2019

After a comprehensive peer-review and careful deliberation by the Think Forward Initiative’s (TFI) research board and innovation hub, we are pleased to announce the selected short term and long term research projects that will take us forward into 2020.

With 146 research proposals from across the globe, we selected the proposals that were seen to provide the most relevant impact-driven insights in the domains of people’s (financial) decision-making, financial health, and financial well-being. This is in line with our vision of empowering 100 million people to make better financial decisions.

The Think Forward Initiative (TFI) is a multidisciplinary and open initiative that promotes research and practical solutions focused on financial health. With this valuable research, we will be able to better understand people’s needs and struggles and then use these new insights to improve their financial health through innovation or communication initiatives.

We’d like to formally thank all the researchers who took the time to submit their proposals. Without your efforts we would not be able to achieve the positive impact we have on people’s financial lives.

Without further ado, the winners of TFI’s call for research proposals are:


1. Disentangling how (Dutch) households adjust purchases and consumption to income and wealth shocks – using a unique dataset matching tax data to panel home-scan data.

Roman Inderst (Goethe University Frankfurt), Calogero Brancatelli (Goethe University Frankfurt), and Adrian Fritzsche (Goethe University Frankfurt)

2. For richer, for poorer: Financial shocks, within-couple insurance, and debt.

Arna Olafsson (Copenhagen Business School), Dan Silverman (Arizona State University), and Leandro Carvalho (University of Southern California)

3. GetReady: An evidence-based simulator for training financial preparedness under resource scarcity.

Uwe Dulleck (Queensland University of Technology), Ozan Isler (Queensland University of Technology), Michael Partis (Wealth Monsta), Andres Rojas (Sunsuper) and Onurcan Yilmaz (Kadir Has University, Instanbul)

4. Intergenerational transmission of saving propensity: New insights from Canadian tax data and policy changes.

Philippe d'Astous (HEC Montreal), Pierre-Carl Michaud (HEC Montreal), and Gaelle Simard-Duplain (HEC Montreal)

5. Joint accounts in the fintech era: How does labelling, transparency and approval rules affect spousal financial decision making?

Michael King (Trinity College Dublin), and Anu Jose (Trinity College Dublin)

6. “Money on my mind”: Investigating the dynamics of financial worry.

Bert Schreurs (Vrije Universiteit Brussel), Ruud Gerards (Maastricht University), and Riccardo Welters (James Cook University)

7. The impact of price comparison tools in consumer credit markets on financial decision-making.

Sean Higgins (Northwestern University), Erik Berwart (Comisión para el Mercado Financiero, Chile), Sheisha Kulkarni (University of Virginia) and Santiago Truffa (Universidad de los Andes, Chile)

8. Third-party guarantees – The role of financial knowledge and social norms.

Christa Hainz (ifo Institute – University of Munich), Elisabeth Beckmann (Austrian Central Bank), and Sarah Reiter (ifo Institute – University of Munich)


1. Borrowing in response to windfalls: the effects of unexpected income shocks.

Michaela Pagel (Columbia Business School)

2. Differential bargaining power within the household and financial risk taking.

Tullio Jappelli (University of Naples Federico II), Dimitris Christelis (University of Glasgow), and Dimitris Georgarakos (European Central Bank)

3. Escaping the legal loan sharks in the age of digital profiling and risky short term lending.

Ronnie Das (Newcastle University Business School), Robert de Boer (Northumbria University), and Frederilk Situmeang (Amsterdam University of Applied Sciences)

4. Gender difference in economic behaviours and financial literacy: Labour division within household, occupation and social norms.

Jia Hou (Shenzhen University), and Maddalena Davoli (Goethe University Frankfurt)

5. How do flat fees for mutual funds affect retail investor behaviour?

Charline Uhr (Goethe University Frankfurt), Steffen Meyer (University of Southern Denmark), Benjamin Loos (University of Technology Sydney), and Andreas Hackethal (Goethe University Frankfurt)

6. ‘Home alone’ online: Digital privacy, engagement, and complex financial decision-making.

Joris Demmers (Monash Business School), Benedict Dellaert (Erasmus University Rotterdam), and Kristian Rotaru (Monash Business School)

7. How temporal separation in budgeting affects spending behaviour.

Christina Kan (Texas A&M University), and Yuna Choe (Texas A&M University)

8. Identifying key facets of digital financial literacy: A holistic approach.

Carmela Aprea (University of Mannheim), and Tabea Bucher-Koenen (ZEW – Leibniz Centre for European Economic Research in Mannheim)

9. Insuring longevity risk while having multiple saving accounts.

Abigail Hurwitz (College of Management Academic Studies, Israel), and Orly Sade (Hebrew University of Jerusalem)

10. The effect of access opportunities on spending versus saving

Ozgun Atasoy (University of Basel), and Baris Depecik (Sabanci University)

11. The effect of financial bullshit on financial understanding, behaviour, and well-being.

Mario Kienzler (Linköping University), Kinga Barrafrem (Linköping University), and Daniel Västfjäll (Linköping University)

12. The financial consequences of unexpected life events: Evidence based on cancer diagnoses.

Jens Kvaerner (Tilburg University), Trond Doeskeland (Norwegian School of Economics), and Kari J Kværner (Oslo University Hospital and BI Norwegian Business School)

13. The impact of education on savings and financial behaviour in Turkey.

Abdurrahman Aydemir (Sabanci University)

14. Using gamification to improve consumer saving behaviour.

Nethal Hashim (Cass Business School), Irene Scopelliti (Cass Business School), and Janina Steinmetz (Cass Business School).