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Designing Evidence-Based Communication for Elderly Consumers in Financial Distress

Objective

This proposal is to facilitate the transfer of the fellow’s internationally acclaimed expertise in behavioral economics, financial planning, and the design of financial education and counseling interventions into Europe, first, to use of principles of risk perception and risk communication to assess asset decumulation, debt management and financial planning strategies of European consumers in older age. Second, it aims to develop recommendations for the banking and financial advising industry, consumer protection agencies, and policy makers to assist in their communicating financial risks to those segments of European consumers that are particularly at risk of poverty in older age.
The research will be conducted in the UK, Germany, and the Netherlands, which represent well distinct pension systems in Europe, employing expert interviews, systematic literature review, in-depth interviews and a confirmatory survey of elderly consumers, and the review of financial communications to develop evidence-based recommendations.
The fellow will be hosted by Professor Bruine de Bruin, Chair of Behavioral Decision Making, Dr. Summers, Senior Lecturer and Director of the Centre for Decision Research, both of Leeds University Business School, and their international team at the Centre who are experts on risk perception, risk communication, and decision aids. The research will be deliberately designed to serve as template for an array of European countries, their financial planning contexts, and vulnerable population groups, thereby creating a significant multiplier effect. The investment of bringing the fellow’s expertise into Europe will contribute to increasing the financial stability of a growing, yet highly vulnerable aging population, thus directly generating social and economic benefits at EU level.

Field of science

  • /social sciences/economics and business/economics

Call for proposal

FP7-PEOPLE-2012-IIF
See other projects for this call

Funding Scheme

MC-IIF - International Incoming Fellowships (IIF)

Coordinator

UNIVERSITY OF LEEDS
Address
Woodhouse Lane
LS2 9JT Leeds
United Kingdom
Activity type
Higher or Secondary Education Establishments
EU contribution
€ 309 235,20
Administrative Contact
Martin Hamilton (Mr.)