feb
9
2016

CITP Luncheon Speaker Series:
Oded Nov – Helping Consumers Make Informed Financial Choices Using Interactive Technologies

CITP Luncheon Series

Date: Tuesday, February 9, 2016
Location: 306 Sherrerd Hall
Please note there has been a change: This talk will NOT be livestreamed or video taped.

Food and discussion begin at 12:30 pm. Open to current Princeton faculty, staff, and students. Open to members of the public by invitation only. Please contact Jean Butcher at butcher@princeton.edu if you are interested in attending a particular lunch.

Consumers increasingly make important financial decisions online, through user interfaces. Making informed personal finance decisions often requires understanding complex concepts such as uncertainty, trade-offs and compound interest which most people are poorly equipped to deal with. To address this problem, research at the intersection of human-computer interaction (HCI), behavioral economics and psychology can contribute to how we understand and empower consumers of financial products. In this talk Nov will present three retirement saving studies in which we developed and evaluated HCI interventions for consumer finance decision making. Users in the experimental interventions conditions made better choices and were more likely reach their financial goals. Moreover, the studies shed light on the potential role of policy and regulation: just as certain information is required by law to appear on the packaging of food products, in the future policy makers and regulators may devise policies about the interactive information elements which should be provided to consumers of financial products.

Bio:

Oded Nov is an associate professor at New York University’s Tandon School of Engineering. He received his PhD from Cambridge University. His research focuses on design for informed decision making, and on social computing. Dr. Nov is a recipient of the National Science Foundation CAREER Award, and his research is supported by the National Science Foundation, the National Academies Keck Initiative, the MacArthur Foundation, and Google.