Behavioral Finance

1. Identify a common financial mistake that you see people make.
2. Explain why the mistake happens using behavioral economics concepts (biases, noise, heuristics, nudges, etc.)
3. What would be an appropriate nudge to help people avoid the mistake; why?
4. How you would test whether it works?
5. What could go wrong (pitfalls) with the nudge?
6. Who (government, business, the individual?) should implement the nudge and why?

Thank you! Typed, please.