This final thesis aims at analyzing how nudges expansion in finance, banking and fintech industries affect developing countries, helping to fight cognitive bias. As a starting point the nudge theory will be deeply analyzed, understanding how nudges works in the behavioral economic and law environments. It will follow an examination of the major cognitive biases in order to understand in which context the human being’s mind can be vulnerable and how individuals are used to react to those impulses. After having created this clear overview it will begin the finance, banking and fintech industries’ analysis with an investigation of the most common cognitive biases related to those industries. Subsequently, I will show how the sectors seen above are included in the context of developing countries. Cognitive biases can have a significant impact due to factor such as limited access to traditional financial services. It is also important to notice that in developing countries many people rely on informal financial information. Finally, a specific case study will be analyzed with the aim of showing effects, results and how nudges can be utilized to overcome cognitive biases.

HOW CAN NUDGES HELP OVERCOME COGNITIVE BIASES IN THE DECISION-MAKING PROCESS? A DEEP ANALYSIS ON HOW BANKING, FINANCE AND FINTECH INDUSTRIES ARE DRIVING CHANGE IN DEVELOPING COUNTRIES

Salmistraro, Maria Vittoria
2024/2025

Abstract

This final thesis aims at analyzing how nudges expansion in finance, banking and fintech industries affect developing countries, helping to fight cognitive bias. As a starting point the nudge theory will be deeply analyzed, understanding how nudges works in the behavioral economic and law environments. It will follow an examination of the major cognitive biases in order to understand in which context the human being’s mind can be vulnerable and how individuals are used to react to those impulses. After having created this clear overview it will begin the finance, banking and fintech industries’ analysis with an investigation of the most common cognitive biases related to those industries. Subsequently, I will show how the sectors seen above are included in the context of developing countries. Cognitive biases can have a significant impact due to factor such as limited access to traditional financial services. It is also important to notice that in developing countries many people rely on informal financial information. Finally, a specific case study will be analyzed with the aim of showing effects, results and how nudges can be utilized to overcome cognitive biases.
2024-03-20
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.14247/17281