17 September 09:00 AM - 05:30 PMArt Gallery of Ontario (AGO) / Toronto, CA

Why are we trying to solve new challenges using old methods? 

Perhaps no other sector is more crucial to economic growth and innovation than Financial Services and Insurance. Yet we continue to struggle, with change, with transformation, with innovation.

"By understanding the science of human behaviour, we can finally shift away from status quo thinking to use the power of science to drive change and innovation." - Kelly Peters, CEO & Co-Founder, BEworks

The goal of the inaugural Summit for Science in Financial Services is to provide business leaders with a new lens to achieve their strategic priorities. The conference will begin with a focus on the predictable and widespread biases and heuristics involved in financial decision-making, then on to designing evidence-based tactics to overcome those behavioural barriers, and will end with action items around implementing scientific thinking into your organization.

Join us, as we bring together some of the world's leading scientists and practitioners to help explore the challenges we all face, and the opportunity to overcome these challenges through science.

Speakers

Dan Ariely, Ph.D.
BEworks, Duke University

Dan is the Chief Behavioural Scientist and co-founder of BEworks, as well as the James B. Duke Professor of Psychology and Behavioural Economics at Duke University. Dan Ariely’s groundbreaking experimental research and prolific writing (3-time New York Times best-selling books, including Predictably Irrational, The Upside of Irrationality, The Honest Truth About Dishonestyand most recently Dollars and Sense) has made him one of the most prominent leaders in the field of behavioural economics; an interdisciplinary science combining psychology, and economics to understand human behavior and decision-making. 

Dan will be presenting his work showcasing the power of behavioural economics on financial decision-making. Read More

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Kelly Peters, MBA
BEworks, University of Toronto

Kelly co-founded BEworks, the first consulting firm dedicated to the practice of applying behavioral economics where she has designed a robust methodology that integrates the rigour of the scientific method with the innovation of behavioral insights, and the pragmatism of management consulting. The BEworks Method is being applied by global companies and policy makers to diagnose the consumer mindset for developing scientifically-grounded strategies, and to validate recommendations through empirically-sound experiments. Her research explores the nexus between behavioral science and technology: improving science through better data-gathering techniques and measures and improving technology through a scientific understanding of adoption and usage barriers. Working as a behavioral scientist for the last ten years, she has overseen the design and launch of hundreds of behavioral economics projects. Kelly is a Faculty Lecturer of Applied Behavioral Science at the University of Toronto’s Rotman School of Management, and regularly lectures at universities including Cornell and Harvard.

Kelly will be presenting on the application of behavioural science for large-scale behavioral change in financial services, covering innovation projects she has led in the domain and presenting real-world results. Read More

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George Loewenstein, Ph.D.
Carnegie Mellon University

George is the Herbert A. Simon University Professor of Economics and Psychology at Carnegie Mellon University. George helped found the field of behavioural economics, the field of neuroeconomics, and was one of the early proponents of a new approach to public policy called libertarian paternalism. George is the co-director of the Center for Behavioral Decision Research at CMU, the Director of Behavioral Economics at the Center for Health Incentives at the Leonard Davis Institute of the University of Pennsylvania, and the past president of the Society for Judgment and Decision Making. George's research focuses on applications of psychology to economics, and specific interests include decision making over time, bargaining and negotiations, psychology and health, law and economics, the psychology of adaptation, the role of emotion in decision making, the psychology of curiosity, conflict of interest, various aspects of sex, unethical behavior, and issues involving research ethics. 

George will be presenting his cutting-edge research on financial decision-making. Read More.

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Hal Hershfield, Ph.D.
UCLA

Hal is an Associate Professor at Anderson School of Management at UCLA. Hal studies how thinking about time transforms the emotions and alters the judgments and decisions people make. While he was at Stanford University, his research concentrated on the psychology of long-term decision-making and how time affects people’s lives — specifically at a moment when Americans are living longer and saving less. Hal will be presenting research from one of his most well known discoveries, that when people are confronted with their “future selves” they experience an emotional sense of connection that can influence long-term financial and ethical decision-making. Read More

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Nina Mažar, Ph.D.
BEworks, Boston University

Nina is the co-founder of BEworks, co-originator of University of Toronto’s BEAR, former Senior Behavioral Scientist of the World Bank’s behavioral insights team eMBeD, as well as Professor of Marketing at Questrom School of Business at Boston University. Nina, who is currently the president elect of the Society for Judgment and Decision Making — the premier academic society for behavioral science, was named one of "The 40 Most Outstanding B-School Profs Under 40 In The World”. Nina's focus on behavioural economics includes the investigation of how expectations, emotions, peers, and random cues in the environment affect how we think about products, money, investments, and morality, and their implications for welfare, development, and policy. 

Nina will be presenting a BEworks' case study published in the Journal of Consumer Psychology focused on leveraging behavioural economics to reduce credit card delinquency. Read More

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Amos Nadler, Ph.D.
Western University

Amos  joined the Ivey Business School at Western University in 2013 as an Assistant Professor of Finance. He previously served as a senior researcher at the Center for Neuroeconomics Studies and worked on a variety of experimental studies using a range of biological methodologies, including hormone measurement, fMRI, neurophysiology, heart rate, skin conductance, respiration, and genetics. Amos will be presenting his research on the effects of testosterone on asset trading through experimental analysis. Read More

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Michelle Hilscher, Ph.D.
BEworks

Michelle holds a Ph.D in psychology from the University of Toronto where she also earned an MA and BSc. In the past 11 years, Michelle has studied numerous topics, including: decision-making, belief bias, emotion, communications, consumer and user experience, and organizational behavior. Prior to joining BEworks, Michelle worked as a Research Associate at Cortex, a governance consulting firm that provides advisory services to institutional investors. In this capacity, Michelle completed projects related to board governance, group decision-making, and strategic planning. At BEworks, Michelle supports clients in a number of sectors, and is particularly interested in issues that fall under the umbrella of behavioural finance. 

Michelle will be presenting selected BEworks' case studies in the domain of financial decision-making.

Read more

Chuck Howard, Ph.D. Candidate
University of British Columbia

Chuck is a PhD Candidate at the Sauder School of Business, University of British Columbia. Prior to starting his PhD, Chuck was a Research Associate at BEworks. Chuck's research is focused on understanding the causes and consequences of consumer financial misprediction, and sources of bias in moral judgment and decision making.

Chuck will be presenting his experiment-driven work on expense prediction bias, which is the phenomenon that consumers tend to under-predict their future expenses. Chuck's work in this area - including a field study with clients of a North American bank - demonstrates that this bias is prevalent, persistent, and economically significant, but also that it can be neutralized by a simple cognitive tool that changes the way people perceive the future. Read More

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BEworks is proud to present the inaugural Summit for Science in Financial Services. Founded in 2010, BEworks is the world’s first consulting firm and research institute that specializes in the application of behavioural insights and the scientific method. Dan Ariely, renowned behavioural scientist and New York Times best selling author of Predictably Irrational and The Honest Truth about Dishonesty co-founded BEworks along with the firms’ CEO and BE pioneer Kelly Peters and top marketing scholar Nina Mažar.


www.BEworks.com      @BEworksInc

Working Agenda

Breakfast in Walker Court

90min

Opening Remarks

15min

George Loewenstein Keynote

George will be presenting his cutting-edge research on financial decision-making

75min

Chuck Howard

Chuck will be presenting his experiment-driven work on the causes and consequences of consumer financial misprediction, and the tools he has helped design to  improve consumers' savings prediction accuracy

25min

Michelle Hilscher

Michelle will be presenting selected BEworks' case studies in the domain of financial decision-making

25min

Amos Nadler

Amos will be presenting his research on the effects of testosterone on asset trading through experimental analysis

25min

Panel: Biases in Financial Decision-Making

A panel for structured Q&A with George Loewenstein, Chuck Howard, Michelle Hilscher and Amos Nadler focused on the biases and heuristics around financial decision-making

20min

Catered Lunch

60min

Hal Hershfield

Hal will be presenting research from one of his most well known discoveries, that when people are confronted with their “future selves” they experience an emotional sense of connection that can influence long-term financial and ethical decision-making

45min

Panel: Scientific Thinking in your Organization

BEworks Co-Founders Kelly Peters, Dan Ariely, and Nina Mažar will discuss the real-world application of behavioural science for Financial Services and how to embed scientific thinking into your organization

20min

Nina Mažar

Nina will be presenting a BEworks' case study published in the Journal of Consumer Psychology focused on leveraging behavioural economics to reduce credit card delinquency

45min

Kelly Peters Keynote

Kelly will be presenting on the application of behavioural science for large-scale behavioral change in financial services, covering innovation projects she has led in the domain and presenting real-world results

45min

Dan Ariely Keynote

Dan will be presenting his work showcasing the power of behavioural economics on financial decision-making

75min

Closing Remarks

15min

Cocktail Reception

Cocktail reception and poster presentations in Galleria Italia - support for networking with your peers interested in or a part of the behavioural economics and financial decision making community.

90min

Media 

 Media are invited to contact Mohit Arora (Mohit@BEworks.com) for accreditation.


Sponsor Information

Sponsorship opportunities are still available.
For information, please reach out to us at info@BEworks.com.

Student Attendance

As a firm committed to academic development and learning, BEworks has complimentary seats for students pursuing careers in cognitive and social psychology, neuroscience and marketing.  We welcome student poster submissions in judgement and decision making that relate to consumer finance. Please submit a maximum 300-word abstract including a short introduction, methods, results, and discussion before August 1, 2018. Final applicants will be contacted to join us by mid-August. To apply or for any related questions, please contact the organizing team at info@BEworks.com.

 

For submissions please visit

https://duke.qualtrics.com/jfe/form/SV_1LjebeVwyvTMx6J


Where Art & Science Meet

At BEworks, we are inspired by a man who combined science with art & design: Leonardo Da Vinci. The Art Gallery of Ontario makes this combination possible, and we hope it will inspire all of you.

Ticket Information


Single Tickets

Early Bird Rate (Ends August 17):  $990 CAD

General Rate:  $1200 CAD


Group Tickets

  $5000 CAD per table of 6

BEworks Contact Info

(416) 920-1921

info@BEworks.com

Head Office in Toronto, Canada