Many people in the United States know climate change is an issue, yet most do not consider the carbon impact of their banking behavior. Ideas42 will partner with two or more banks to help more U.S. residents switch to climate-friendly deposit accounts. They will share findings of a behavioral science study and pilot with banking ecosystem stakeholders to promote adoption by peer institutions, including financial technology companies and credit unions.
About the Grantee
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Grants to this Grantee
for general operating support
Behavioral Ideas Lab uses scientific insights from behavioral economics research to design innovative policies and products, both domestically and internationally, that solve tough social problems. The Foundation has supported the Lab’s work for the past three years, starting from the time it was founded at Harvard University as the Policy Design Initiative by, among others, Sendhil Mullainathan, a professor of Economics at the University (and a recipient of a MacArthur Foundation "genius grant"). During that time, the Initiative successfully reconceptualized social problems, and designed and tested scalable solutions through strategic partnerships. For example, it has reviewed all of the Children and Families programs in the U.S. Department of Health and Human Services to implement behavioral interventions that could increase uptake and retention of services, or improve program effectiveness in other ways. In the future, a division of the Lab will remain at Harvard to focus on academic research activities, while this new nonprofit will focus on social impact projects. For example, research into incentives for Ugandan business owners to repay their loans has the potential to change both the perception of credit risk for microfinance institutions and provide more access to finance for small businesses in developing countries.
for incorporating cultural competency into research practices and methodology
for the design of a behavioral insights research project to improve civic monitoring platforms
The Behavioral Ideas Lab, Inc. (ideas42) is a research organization and network of behavioral scientists that partners with governments, foundations, and civil society organizations to address social problems with behavioral insights. In this project, they will identify the trade-offs of potential models for a research collaborative to study the application of behavioral insights to increase the responsiveness of public officials to reports from civic monitoring platforms.