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The power of a social norm nudge in saving

by Robert Dur, Dimitry Fleming, Marten van Garderen & Max van Lent
Posted on December 19, 2018

Quite a few households have a financial buffer that's just too small. In the Netherlands, about one in three households have a lower savings buffer than recommended. How can institutes and banks help people increase their buffer? Research by Robert Dur (Erasmus University Rotterdam), Dimitry Fleming (ING), Marten van Garderen (ING) and Max van Lent (Leiden University investigates how the ‘social norm nudge’ could help people to save more. A nudge could be described as a push into the right direction by slightly changing the environment without reducing people’s freedom of choice. Specifically, a social norm nudge points out how people's behaviour differs from others. Read more about this TFI research project and learn how the social norm nudge affects our saving behaviour.