Warwick Nudgeathon tackles a financial management issue in the Emirates
There is the stunning architecture of Abu Dhabi, and then there is ‘choice architecture’ – a term used to describe the shaping of the environment of choice in such a way that people naturally choose behaviours that are better for them and for society. Careful choice architecture is likely to be of vital importance when devising policies to enable people and organisations to navigate rapid and unexpected changes in their circumstances, especially when this will require proportionate changes in behaviour and expectations that can be difficult to achieve, as well as emotionally painful.”
Once upon a time it was the pearl divers of the Arabian Gulf who gathered at the traditional assemblies - or majalis – of Abu Dhabi. Here, they would share their stories of the sea in the hope of persuading local merchants to fund their dangerous diving trips. But, in January 2023 it was an assembly of a slightly different kind that took place in the Emirate at the invitation of the Abu Dhabi Youth Council, as Warwick Business School’s internationally-acclaimed Nudgeathon rolled into town. On the agenda this time was not pearl diving, but a distinctly modern issue: improving financial wellbeing among young Emiratis.
In particular, two behaviours among young Emiratis up to 35 years old – married, single and newly employed – were targeted. These were managing expenses and saving for the future. Pioneered by the WBS Behavioural Science Group in 2015, the Warwick Nudgeathon has been touring internationally for a number of years now, using Nudge Theory to help solve some of the world’s most complex problems – from tackling violence in schools in South Africa to encouraging tech entrepreneurship amongst young people in Pakistan.
Nudge Theory is a framework of persuasive ‘nudges’ or ‘pushes’ that governments, private companies and other entities can employ to help people improve their decision-making, based on the premise that when given two alternatives, people tend to choose the option that is easier and more convenient, rather than one that could lead to better outcomes.
Dr Umar Taj Co-founder of Nudgeathon and Associate Professor of Behavioural Science
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Executive Education 2023
wbs.ac.uk
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