Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/265906 
Year of Publication: 
2022
Series/Report no.: 
ESRI Working Paper No. 722
Publisher: 
The Economic and Social Research Institute (ESRI), Dublin
Abstract: 
Many households lack savings to cushion them from financial shocks. While behavioural economics offers insights into why some households who want to save may fail to do so, successful behavioural interventions to increase precautionary saving are elusive. We incorporated multiple evidence-based "nudges" and "boosts" into a savings account application form at a major commercial bank and designed an electronic marketing communication to explain cumulative risk based on a scalable boost. In a pre-registered randomised controlled trial, these interventions increased saving account uptake by 25-40%. Moreover, some effects were concentrated among low-income households.
Document Type: 
Working Paper

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