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In an interview, SMU Behavioural Sciences Institute Director and Professor of Psychology David Chan commented that US economist and 2017 Nobel Prize winner Richard H. Thaler’s contribution to the world of economics was to establish a choice architecture – where people make their choices based on emotions, and not out of economic rationality. Citing the example of the US pension programme “Save More Tomorrow”, where one gets enrolled in the programme by default unless they choose to opt out, Prof Chan noted that this leverages on the common mentality of status quo bias.

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Volume 10 Special Issue (June 2020)

Speaking at a virtual panel discussion at the forum "Bouncing Back from COVID-19”, organised by the Institute of Policy Studies, SMU Behavioural Sciences Institute Director Professor David Chan said that in future, citizens have to be prepared to live alongside the COVID-19 virus and an uncertain world. This means not just adapting to changes, but to “learn to do the same thing in more than one way,” such as workers being prepared to switch between working from home and the office, or offices being converted into mixed-use developments, he explained.

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Volume 10 Issue 2 (June 2020)