There are Free Lunches Statement of Intentions

There are Free Lunches: Behavioral Clues to Live Happy in the Economic World is a blog that intends to present updated and relevant information about the "hidden" and only recently uncovered dimensions of the economic science: the behavioral factors. With this blog we intend to promote in Europe and in the rest of the World, the top research articles and perspectives on behavioral economics, decision making, consumer behavior, and general behavioral science. We aim to be followed by journalists, academics, managers, civil servants, and everyone who wishes to improve their daily interaction with the economic world and consequently, their lives' happiness.

Monday, 5 September 2011

Slow down! You move too fast! (via research)

Attempts to curb speeding on the roads usually involve a mix of scary messages and the threat of fines or driving bans. But behavioural economics is starting to be applied to this social issue in creative ways.

A brilliant example from the inspirational is the speed camera lottery. If you keep within the speed limit you are caught on camera and automatically entered into a lottery to win a prize. This (in BE terms) is a classic piece of reframing: from a negative and punitive stance to a positive one – offering a reward for those who obey the rules.

Slightly more practical is the Smiley SID (Speed Indication Display) which is a traffic calming sign designed to use social norms on drivers to reduce their speed. A smiley SID rewards drivers when they obey the speed limit, while a sad SID tells them they’re going too fast. Developed as more of a gentle reminder and a non aggressive means of speed limit enforcement, SIDs are seen as the “friendly” face of community and site speed education. They have been found to be effective particularly in low-speed areas, which tend to be residential.

If you have 5 minutes you can check everything here:!-you-move-too-fast/4005749.article

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