The role of behavioural economics and neurofinance in financial consumer protection policy

Diletta Antenucci (), Francesco Franceschi () and Gioia Repaci ()
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Diletta Antenucci: Bank of Italy
Francesco Franceschi: Bank of Italy
Gioia Repaci: Bank of Italy

No 890, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper provides a concise but critical overview of the engagement of financial consumer protection authorities with approaches rooted in behavioural economics and neurofinance. We draw on a wide range of documents published by these authorities in recent years. In Specifically, we describe the goals these institutions expect to achieve by incorporating insights from behavioural economics and neurofinance into their activities, and whether they have been successful in doing so, based on some specific cases of policies actually implemented. We also highlight how and to what extent they have devoted internal resources to research and policy rooted in behavioural economics and neurofinance. Finally, we highlight the main empirical research methods they have used.

Keywords: behavioural economics; neurofinance; neuroeconomics; consumer protection; decision-making process; behavioural and cognitive biases (search for similar items in EconPapers)
JEL-codes: D11 G21 G41 (search for similar items in EconPapers)
Date: 2024-10
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_890_24

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