What is Nudging
Nudge [nʌdʒ] – a gentle touch or push – is the name for a concept in psychology and behavioural economics which makes it possible to influence someone towards better decisions without limiting the freedom of choice or using economic (monetary) incentives. This is effective because humans tend to behave irrationally and unmindful in everyday decisions and often it is just the matter of a slight stimulus to start acting (differently). For example it is senseful to plan meetings for 40 minutes instead of 60 minutes, as the time is being used more efficiently in a stricter time frame, although the meetings are shorter.
The oldest example of a nudge can be found in a story about the prussian king Frederick the Great. At his time potatoes were not particularly popular, in order to change that, he let his soldiers guard the potato fields. Due to the sudden increase of the potatoes value, it is said that the citizens started being interested in the field crops and consumed them often and with pleasure.
Many nudges are definitely advantageous – actually many consumers are putting their hopes in such an assistance in order to sustainably change their habits of eating and consuming. However nudges are not unproblematic from the perspective of the persons affected, as their are often driven by economic interest of the producers or employers. This fact is neither new nor should be judged negatively. The influencing of (potential) customers is as old as the markets themselves. Marketing and Advertisements always seeked to make the own products and services as attractive as possible to the consumers. Using findings of the behavioral psychology is not new as well. The knowledge of nudging is already being used for a long time in commercial fields like user experience design, marketing or the distribution of products and services. But since a few years this knowledge is used more systematically and comprehensively in the economic world.
What is the NudgeNight?
At the Nudge Night, interested parties can inform themselves about the topic of decision making and get to know nudges from various economic dimensions presented by students.
Each Nudge Night has its main theme in terms of content, to which the developed nudges are oriented. Sometimes they are more socio-political topics such as “Sustainable Consumption” and “Education” or company-related topics such as “Innovation Management” and “Customer Experience”.
To get an idea of what nudging exactly means and how it can be used, you will be informed at the beginning through a short introduction about the topic of “Nudging”. This will be followed by a keynote speech held by practitioners from the industrial sector, public organisations or from the service sector.
You will have the opportunity to get in touch with the students to ask questions about their innovative projects.
Who is the NudgeNight for?
We invite all interested parties to participate. Whether you are an entrepreneur and would like to learn more about the topic for professional purposes or join us as a student – you are very welcome! The participation is free of charge.
Where and when does the NudgeNight take place?
The next event will take place at the end of the summer semester 2020.
If you have any questions about the event, Prof. Dr. Christoph Harff is available to answer them at email@example.com.
Die Erkenntnisse der Verhaltensökonomie lassen sich auf vielen Bereiche anwenden. Besonders beliebt ist die Erweiterung bzw. die Ergänzung der kapitalmarktheoretischen Erkenntnisse um bestimmte psychologische Verhaltensmotive z.B. von Investoren und Anlegern. Mit Hilfe experimenteller Verhaltensforschung können Verhaltens- und Kapitalmarktanomalien identifiziert werden. Mit unseren Projekten wenden wir die bereits bekannten psychologischen Phänomene und Nudges auf die Teilnehmer der Kapital- und Finanzmärkte an.
In den Wintersemestern 2018/19 und 2019/20 haben wir im Rahmen des Schwerpunkts „Ökonomische Psychologie“ zwei Projekte für die Dortmunder Volksbank e.G. umgesetzt:
Edukatives Video mit dem Thema „Eine Reise durch die Börsenpsychologie – Was haben Familienurlaube und Anlegerverhalten gemein?“
Interaktive Lernmaterialien zum Anlegerverhalten für Auszubildende
In kleinen Teams werden Lern- und Informationsmaterialien edukativ aufbereitet, indem Informationen und Erkenntnisse der Behavioral Finance / Börsenpsychologie je nach Zielgruppe des Beitrags berücksichtigt werden. Die Materialien sind in der Regel skalierbar über verschiedene Medien bzw. Kommunikationskanäle einsetzbar und eignen sich für eine flexible Nutzung an Kunden und Mitarbeitern. Dabei werden die Anforderungen an Corporate Design und Corporate Identity eingehalten
NudgeNow – Student consulting
If you or your company are looking for support in the creation and implementation of Nudge concepts, the student advisory service ‘Nudge Now! of the University of Applied Sciences Hamm-Lippstadt will gladly assist you.
We develop ideas for individually tailored nudges with you and work out the implementation of these for your company. For further information please contact: firstname.lastname@example.org