his interactive session provides an introduction to behavioral economics, including groups identifying areas where behavioral economics could be applied in actuarial practice. Experience a practical application workshop using behavioral economics for direct sale products. Break out into small groups and develop an outline of a BE based sales program for a product of your choosing to be sold over the internet. Gain feedback and take part in a discussion.
By attending the session, you will:
- Understand the basic concepts of behavioral economics.
- Have some ideas of how it can be applied to actuarial practice.
- Learn how to design a product using BE and how to design an experiment to test the effectiveness of an application of BE.