Sludge Synopsis Details Task Details:

Richard Thaler has famously said, 'nudge for good'. However, there are many instances in a financial or consumer context where people are taken advantage of or are not well informed.

This assessment task asks you to utilise your research skills to identify and explore how and what behavioural tactics are employed to persuade people into making sub-optimal or ill-informed choices. You are also asked to identify potential 'nudge for good' solutions.

Potential topics for exploration include (but are not limited to): insurance products, buying a first home, home loans, gambling, phone contracts, privacy agreements, data sharing, electricity provider contracts, mobile phone contracts, car loans, warranties, pay-day loans, school banking programs, the sharing/gig economy, retirement savings, aged care living choices.

Directions:

Accordingly, you need to: - define the problem or "sludge", highlighting how cognitive and emotional biases, neuroscience and any other behavioural tactics are used that result in adverse outcomes for people. - provide a brief research summary of the problem - ie. how many people are impacted, related policies and changes over time, the market, any information asymmetries, what are the financial implications for the people directly impacted, their household and the country. Statistics, references to policy or reports and data generally is useful to support the scope of the problem. - provide some suggestions on ways that the adverse impact can be mitigated- a range of solutions may be presented that involve behavioural insights approaches, education and policy.

You must meet the Scoring Criteria below:

Criteria	Ratings
Content knowledge view longer description	Student demonstrates a thorough understanding of content knowledge through the synopsis. The synopsis shows a high level of insight and exceptional proficiency in developing logical and persuasive arguments.
Evidence view longer description	Excellent use of quality external information (statistics, quotes, reference to reports, etc) to support argument. An appropriate referencing style is used.
Solutions view longer description	Student provides detailed solutions that address a range of issues and demonstrates a very high level knowledge of behavioural insights techniques.