BIAS OF THE WEEK

Goal Gradient Effect

A Canadian Bank invites customers, with a message, to complete the registration process of an investment programme.

Some clients also receive a checklist or bar showing their progress and that they are one step away from completion.These clients are 30% and 90% more likely to finish than those who only received the message.

Our motivation and effort increases as we get closer to our goal

See the full study here :

Favien Hue (2020). Behavioraleconomics.com: No Data, No Drama: How Behavioral Science Can Help the Banking Industry

Want to know more about biases?

Availability Bias

Automation Bias

Blind Spot Bias

Reciprocity