Last week, myself and fellow business students Kate Dangerfield, Jessica Castles, Lara Setefano, along with Professor Rebekah Russell-Bennett and Megan Godwin won big time at the Australian National University in Canberra – a social marketing team beat behavioural economists at their own game and achieved first place at the Nudgeathon, a behavioural change competition in which students, both undergraduate and postgraduate, develop solutions to real-life social issues.
It was QUT’s Queensland Behavioural Economics Group (QuBE) in collaboration with the Behavioural Economics Team of the Australian Government (BETA) in the Office of Prime Minister and Cabinet, and the Crawford School of Public Policy (ANU) that brought the second annual Nudgeathon to Canberra this year.
15 teams of four students across Australia addressed the opportunity the Consumer Data Right presents and how comparison sites (using the example of credit cards) could utilise this change in policy to allow consumers to make more informed financial decisions in light of poor financial literacy. We presented our strategy which involved gamification, co-creation, and decision modelling to a panel of expert judges from academia, government, and industry with our winning proposal set to be presented to government with the goal of being implemented either at Commonwealth or State Level.
Congratulations are also in order to QUT’s Behavioural Economics team who came second place, in addition, University of Queensland’s Behavioural Economics team who came in third.