Dan Ariely,
George Loewenstein, Hal Hershfield, Nina Mažar and
Kelly Peters will share cutting-edge
scientific research to help bridge gap between academia and
business
TORONTO, Aug. 17, 2018 /PRNewswire/ - One month from
today, the world's most influential behavioural scientists will
convene in Toronto in September to
advance scientific thinking and bridge the gap between academia and
the business world at the inaugural Summit for Science in Financial
Services. An elite group of scientists, including Dan Ariely, George
Loewenstein, Kelly Peters,
Hal Hershfield and Nina Mažar, will
gather to collaborate with business leaders to apply scientific
thinking to key business challenges to drive innovation and
progress.
"We are all far less rational in our decision-making than
standard economic theory assumes," said Dan
Ariely, Ph.D, Chief Behavioural Scientist and co-founder of
BEworks; James B. Duke Professor of Psychology and Behavioural
Economics at Duke University; and
New York Times best-selling author of
Predictably Irrational and Dollars and Sense. "Our
irrational behaviours are neither random nor senseless: they are
systematic and predictable. As we look at the mounting challenges
in the financial services sector — such as rising consumer debt,
ongoing barriers that make it difficult for consumers to save, and
increasingly complex information being disclosed to retail
investors about their investments — the financial services sector
needs to dramatically shift its approach to create real impact and
change."
Drawing on research from thousands of academic studies
and experiments, the summit
will examine barriers to innovation in the financial
services and insurance sectors and understand the cognitive
biases and heuristics involved in financial
decision-making, including time discounting, the status quo
bias, and the implementation gap. More importantly, the sessions
will equip attendees with research and actionable insights to
advance scientific thinking in their organizations.
"If business leaders truly want to accelerate change, take risks
and advance innovation, they must embed the rigor and discipline of
scientific thinking into their organizations," said Kelly Peters, CEO and co-founder of BEworks.
"Status quo is simply not an option anymore when there is so much
to learn from science. By bringing leading academic experts and
business leaders together in this unique forum, we aspire to help
business leaders understand the role of science to drive change,
encourage new approaches to innovation and ultimately help
organizations understand how consumers think about money."
New academic research will be shared from some of the world's
leading behavioural scientists shaping the application of
behavioral economics in the world of finance, including:
- Dan Ariely, Ph.D., Chief
Behavioural Scientist and co-founder of BEworks; James B. Duke
Professor of Psychology and Behavioural Economics at Duke University; and Chief Behavioural Officer at
Lemonade. Named as one of the Top 50 Most Influential Thinkers by
Bloomberg, Dr. Ariely's ground-breaking experimental research, TED
Talks and prolific writing, including his New
York Times best-seller Predictably Irrational,
has made him one of the most prominent leaders in the field of
behavioural economics. His most recent book, Dollars and
Sense, explores a wide range of everyday topics—from credit
card debt and household budgeting to holiday sales—to demonstrate
how our ideas about dollars and cents are often wrong and cost us
more than we know.
- George Loewenstein,
Ph.D., the Herbert A. Simon University Professor of Economics
and Psychology at Carnegie Mellon
University. Dr. Loewenstein helped found the field of
behavioural economics, the field of neuroeconomics, and was one of
the early proponents of a new approach to public policy called
libertarian paternalism. He is one of the leading thinkers in the
world examining the interface between economics and psychology.
- Kelly Peters, MBA, CEO
and Co-Founder of BEworks. Kelly co-founded BEworks, the first
consulting firm dedicated to the practice of applying behavioural
economics. She is a Faculty Lecturer of Applied Behavioural Science
at the University of Toronto's
Rotman School of Management, and
regularly lectures at universities including Cornell and Harvard.
- Hal Hershfield. Ph.D.,
Associate Professor at Anderson School of Management at
UCLA. Dr. Hershfield studies how
thinking about time transforms the emotions and alters the
judgments and decisions people make. He will be presenting research
from one of his most well-known discoveries, that when people are
confronted with their 'future selves' they experience an emotional
sense of connection that can influence long-term financial and
ethical decision-making.
- Nina Mažar, Ph.D., Co-founder of BEworks, and Professor
of Marketing at the Questrom School of Business at Boston University. Dr. Mažar's focus includes the
investigation of how expectations, emotions, peers, and random cues
in the environment affect how we think about products, money,
investments, and morality, and their implications for welfare,
development, and policy.
Behavioural Economics is the study of psychology related to
the economic decision-making of individuals and
institutions. Evidence-based insights from the fields of cognitive
and social psychology, neuroscience, and marketing science allow
behavioural economists to understand how people make decisions and
why they behave the way they do, offering powerful new ways to
create and measure change.
Hosted by BEworks, the inaugural Summit for Science in Financial
Services takes place in Toronto on
Monday, September 17. Students
currently enrolled in behavioural science programs are invited to
submit abstracts outlining their work related to financial
decision-making. Special pricing is available for non-profit
associations, academia, with early bird event pricing until
August 24 and specialized sponsorship
packages are available. Given our desire to facilitate rich
dialogue in an informal setting, seats are extremely limited. The
full agenda and speaker line-up can be found at:
www.BEworksSummit.com.
When:
|
Monday, September 17,
2018 | 7:30 a.m. to 7:30 p.m.
|
|
|
Where:
|
The Art Gallery of
Ontario (AGO)
317 Dundas St. West, Toronto ON, Canada
|
About BEworks
Founded in 2010, BEworks is an unconventional management consulting
firm that believes science has the potential to transform the
economy and society. Our team of experts in cognitive and social
psychology, neuroscience, and marketing work answer our client's
most complex business questions, execute disruptive growth
strategies and accelerate innovation. Part of the kyu collective of
companies since January 2017, the
firm's client list includes Fortune 1000 companies and government
agencies. BEworks was co-founded by Dan
Ariely, renowned behavioural scientist, Kelly Peters, the firm's CEO and BE pioneer, and
top marketing scholar Nina Mažar. For more information, please
visit www.BEworks.com, @BEworksInc, #SummitForBE, or
https://www.linkedin.com/company/beworks/.
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SOURCE BEworks Inc.