UK’s FCA declares success in nudging savers towards new products
Body finds trial produced 'notable difference' in behaviour
The UK's Financial Conduct Authority yesterday published the results of a randomised controlled trial, which researchers say delivered a significant change in the behaviour of savers.
The occasional paper, Stimulating Interest: Reminding savers to act when rates decrease by Paul Adams, Stefan Hunt, Laura Vale and Redis Zaliauskas, put together a trial of 20,508 consumers with savings accounts with a high initial interest rate that subsequently fell.
The researchers divided people into four
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