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DESCRIPTION:\n\nDo mandated financial disclosures help consumer make better
  choices?\n\nBy Dilip Soman\n\nCanada Research Chair in Behavioural Scienc
 e and Economics at the Rotman School of Management\, University of Toronto
 \n\nWith High-Level Panel of Leaders in Science\, Technology\, On-the-Grou
 nd Action\, and Policy\n	 \n\nRegister & watch the webinar\n\nView poster\n
 \nRegulators operate on the assumption that making select financial terms 
 on loan products easier to access and salient to process helps borrowers m
 ake better choices. In this talk\, I propose that improved access is a dou
 ble-edged sword. In a first set of laboratory choice studies\, I will pres
 ent results that examine whether the provision of credit card terms and co
 nditions in an easy- to-read table (the so called Schumer boxes) and makin
 g the borrowing costs salient can help a subset of consumers. However\, fo
 r people who use the card only for convenience\, the salience of borrowing
  costs might actually backfire. In a second set of incentive-compatible st
 udies using a realistic replica banking website\, we tasked participants w
 ith finding the best credit card onsite. We randomly varied whether the co
 sts of borrowing was relevant to their financial situation\, as well as th
 e accessibility of this information. Improved access led to better choices
  when costs were relevant and worse ones otherwise. Clickstream data show 
 the effect arises because participants are exposed to more cost informatio
 n with easier access\, and that the effect is exacerbated with higher fina
 ncial literacy.\n\nAbout the speaker\n\nDilip Soman is a Canada Research C
 hair in Behavioural Science and Economics at the Rotman School of Manageme
 nt\, University of Toronto. He has degrees in behavioral science\, marketi
 ng\, and engineering\, and is interested in the applications of behavioral
  science in organizations\, and for welfare and policy. He is the co-autho
 r of Managing Customer Value (2022)\, author of The Last Mile (2015) and c
 o-editor of The Behaviorally Informed Organization (2021) and Behavioral S
 cience in the Wild (2022). He has taught in the U.S.A\, Hong Kong and Cana
 da\, and has worked with several corporations\, governments and start-ups.
  His non-academic interests include procrastination\, cricket\, travel\, a
 nd taking weekends seriously.\n\n\nAbout the series\n\nThe Precision Conve
 rgence series is launched to catalyze unique synergy between\, on the one 
 hand\, novel partnerships across sciences\, sectors and jurisdictions arou
 nd targeted domains of real-world solutions\, and on the other hand\, a ne
 xt generation convergence of AI with advanced research computing and other
  data and digital architectures such as PSC’s Bridges-2\, and supporting d
 ata sharing frameworks such as HuBMAP\, informing in a real time as possib
 le the design\, deployment and monitoring of solutions for adaptive real-w
 orld behaviour and context.\n\nThe Precision Convergence Webinar Series is
  co-hosted by The 91ºÚÁÏÍø Centre for the Convergence of Health and Economic
 s (MCCHE) at 91ºÚÁÏÍø and The Pittsburgh Supercomputing Center\, 
 a joint computational research centre between Carnegie Mellon University a
 nd the University of Pittsburgh.\n\n \n
DTSTART:20231017T150000Z
DTEND:20231017T170000Z
SUMMARY:MCCHE Precision Convergence Webinar Series with Dilip Soman
URL:/desautels/channels/event/mcche-precision-converge
 nce-webinar-series-dilip-soman-350434
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