Can Borrowing Bring Us Together?
Foreword
At TDL, our role is to translate science. This article is part of a series on cutting edge research that has the potential to create positive social impact. While the research is inherently specific, we believe that the insights gleaned from each piece in this series are relevant to behavioral science practitioners in many different fields. As a socially conscious applied research firm, we are always looking for ways to translate science into impact. If you would like to chat with us about a potential collaboration, feel free to contact us.
Introduction
Lending among friends is a quotidian activity that many of us do from day to day without thinking. However, borrowing has consequences beyond the financial realm alone. Our relationships are affected by these financial ties, often in ways that we might not expect.
Dr. Laura Straeter and Jessica Exton, two behavioral scientists at ING, a Dutch bank have taken a closer look at this perplexing everyday occurence. Their research studies the interlocking factors that influence friendship and finance, which touches on several key areas of interest for The Decision Lab.
We reached out to Laura and Jessica to discuss their work on this study as well as the future direction of research involving applied behavioral science and finance.
To read more about the study, check out the Behavioural Economics Guide (page 96).
About the Authors
Laura Straeter
Laura Straeter is a behavioural scientist at ING. She joined ING in 2018 and has expertise in psychology and consumer behaviour. Laura holds a PhD in consumer research and marketing from the Rotterdam School of Management, Erasmus University and has a background both in marketing and economic psychology. Laura has previously lectured at Maastricht University School of Business and Economics at the graduate and undergraduate level.
Jessica Exton
Jessica Exton is a behavioural scientist with cross-sector management consulting experience. She joined ING’s International Consumer Economics team in 2018 and holds a master's degree in behavioural economics from the University of Amsterdam. Jess manages the ING International Survey, one of Europe’s largest and longest-running surveys on financial decision making and delivers insights from behavioural science to ING's retail business.
Nathan Collett
Nathan Collett studies decision-making and philosophy at McGill University. Experiences that inform his interdisciplinary mindset include a fellowship in the Research Group on Constitutional Studies, research at the Montreal Neurological Institute, a Harvard University architecture program, a fascination with modern physics, and several years as a technical director, program coordinator, and counselor at a youth-run summer camp on Gabriola Island. An upcoming academic project will focus on the political and philosophical consequences of emerging findings in behavioral science. He grew up in British Columbia, spending roughly equal time reading and exploring the outdoors, which ensured a lasting appreciation for nature. He prioritizes creativity, inclusion, sustainability, and integrity in all of his work.
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