Life and Shares: Ep 04 - The power of persuasion
Humans aren’t rational… and yet so much economic modelling assumes we are. In this episode, we look at a Canadian experiment that investigated the ‘gamification’ of investment apps… and how one minor tweak to the app saw people increase the number of trades by a whopping 40%. We meet behavioural finance specialists Angel Zhong (RMIT University) and Ravi Dutta Powell (The Behavioural Insights Team) who explain how cognitive biases impact how we assess risk and make investment decisions. Life and Shares is a four-part series that helps you understand the rules of the game so you can make informed decisions. This podcast is presented by The Ethics Centre, an independent not-for-profit that advocates for a more ethical society. Our work is made possible by donations including the generous support of Ecstra Foundation - helping to build the financial wellbeing of Australians.