Personal Statement · gpt-6-sol

When I first realized there was a discrepancy between what someone wanted to do and what they ended up doing was when I was trying to budget myself. I knew why I wanted to stick to my budget and knew what I needed to do to achieve that. However I continued to spend small amounts of money here and there. This lead me to think that maybe there are more reasons why someone may make a illogical decision then we realize. I think this lead me to study behavioral economics. As mentioned above economics gives us great tools to analyze how incentives effect peoples behaviors. However we fail to understand why someone will fall into bad habits, be motivated by external force or even have attention span issues. I enjoy the idea of understanding why people do what they do when faced with these situations. I want to delve deeper into this concept of nudging someone to make a better decision versus forcing them to. If you were able to make a decision easier for someone through simple changes to their prompt that could benefit them in that moment. However I want to know more about who makes the decision to help people make "better" decisions and what line is being crossed. I think behavioral economics could allow me to look at this subject further. I believe studying behavioral economics will allow me to look at experiments and help find answers to my questions. Whether its finding correlations in human behavior and psychology to our economic principles. I would love to learn about behavioral economics and apply my knowledge to people finances. This experience did not give me the answer but it lead me to question why people don't follow what they want to do. This is what I hope to study through Behavioral Economics.

I wanted to understand why people don’t always do what they say they’ll do, so I decided to study myself. I set a specific budget for a reason, and I knew I should stick to it to reach my goal. However, I often made impulse purchases. I wasn’t surprised that I made bad financial choices. What intrigued me was that I made choices that I knew would negatively impact me. I’ve always been fascinated by choices that seem to have no logical explanation. I think there’s usually an explanation, and most of the time, the choices are completely rational. Sometimes, the difference between a reasonable and reasonable-seeming choice is how the choice is framed. I’m drawn to behavioral economics for these reasons. Understanding why people act the way they do, rather than how they act in a completely hypothetical situation, is what I find most captivating and what I ultimately want to study. What draws my interest is the boundary between positive reinforcement and overt behavior direction. It seems that recent developments in behavioral economics have moved the field beyond simplistic prescriptions of “shoulds” and “should nots,” and in some cases have actually allowed for efficient, ethical, and easily implementable decision architecture improvements. There are, however, uncomfortable ethical and philosophical consequences of widespread use of those improvements that merit further consideration. What constitutes a better choice? When does a nudge become a shove? I believe a major reason that improving choices in the field of personal finance has not reached its full potential is the lack of behavioral economists specializing in that area. I would like to specialize in that area and investigate some of those previously undocumented behavioral phenomena using empirical research methodologies. My interest in that area and my research have led me to develop a set of values, as well as the belief that, in many cases, people lack the means to implement their own value structures. With that in mind, what I find most appealing about behavioral economics is that it provides a means of addressing value structure integration and improving the efficacy of positive reinforcement.

Why is it so hard to follow our own advice? As a child, I struggled to follow my own budget. Despite having a clearly defined budget, and having the best of intentions, I found that I spent money I should have saved. I knew that I was making irrational decisions, and that following my budget would be in my best interest. And yet, I found that those little extra purchases kept piling up. Traditional economics can be a powerful tool for examining incentives and trade-offs, but it often neglects the role of limited attention, emotion, social influence, and habit formation in decision making. Behavioral economics, on the other hand, incorporates these influences into economic analysis, and provides tools for examining not only how people should make decisions, but how they actually make decisions. I’m particularly interested in exploring how small changes in decision making environments can help people make better decisions, while leaving choice intact. Whether through more effective reminders, changes in the way options are presented, or thoughtful changes in defaults, small changes can sometimes have large effects. But there are many important questions to consider. Who gets to define what a “better” decision is? Where does nudging end and manipulation begin? How can we know if the effects we observe in experiments are likely to persist in practice? I want to study behavioral economics because it provides an approach to decision making that emphasizes rigor and evidence, while recognizing the importance of insights from psychology and other fields. I hope to learn how to design and evaluate experiments, and synthesize results across studies and settings. Ultimately, I’m interested in using these skills to explore ways to improve decisions that have a large cumulative impact, such as financial decisions. While my childhood experiences with saving money didn’t provide me with many answers, they did provide me with a question: why is it so hard to do what we know we should do, and how can we make it easier? I hope to explore this question, and others, as I learn more about the field of behavioral economics.

Yet small purchases, the type of which occupy most of the economic space, contribute and are the sole extent of many people’s economic decisions, often these trivialities are the only money most people allocate. Even so, I think that these trivialities can reveal a lot about an individual. I began to wonder “where do our utility functions come from?” Why do we believe that things are useful and effective in certain contexts? Why do people have seemingly irrational allocation of budgeting? I decided to dig deeper in order to answer these questions. Behavioral economics appeals to me because of a quality it shares with classical economics. It helps us to understand the way people actually behave, rather than wish they behaved. Behavioral economics brings to the table a crucial factor that classical economics does not: context. I want to contribute to this emerging field that offers a greater respect for how our real choices are both made and affected, and how social forces interact with the forces of nature. I am particularly interested in a view of economics that incorporates assumptions about human behavior that are more realistic than the view that economic agents have complete knowledge and act rationally to maximize their utility. Instead, I believe that there are actually psychological constraints on the optimality of decisions, and these constraints result in economic outcomes that are systematically suboptimal. Studying and understanding these deviations from the ideal allows us to introduce more practical theories of behavior and better policies. Who decides, what do they know, and what do they believe? Studying behavioral economics will allow me to answer this question by applying rigorous quantitative methods to questions that illuminate human behavior. I want to continue developing quantitative skills and to uncover theoretical insights that relate directly to human decision-making processes. I would apply these skills to economic interventions, ultimately understanding how contextual nuances affect the results of these interventions in the real world. In finance, the role of irrationality is very salient, and there is a lot of evidence that sophisticated investors regularly make decisions that are unwise. Behavioral economics asks why consumers make bad decisions, and at the same time, how economics can account for those poor decisions as they happen in everyday life. I want to study psychology alongside economics to examine the literature on irrationality, evaluate its potential to explain undesirable choices, and explore solutions to problems arising from behavioral biases.

I became aware of the discrepancy between peoples intentions and actual behaviour when I was trying to save money. I had a budget in place which I was going to stick to, however I kept making small purchases. What fascinated me was that I was making bad decisions, but was aware of the consequences of this. This got me thinking about how many seemingly irrational decisions are actually predictable due to the way the decision was presented. I find behavioural economics fascinating as it addresses this question. While traditional economic models can be extremely useful in understanding incentives and trade offs, they can often fail to consider how decisions can be influenced by habits, emotions, social influences and cognitive limitations. Using behavioural economics allows us to see how people actually make decisions. What fascinates me is looking at how we can help people make better decisions. By using well designed reminders, increasing option clarity and changing defaults we can make important decisions easier without taking away any of peoples freedoms. While this idea excites me, I am curious to know how we determine what a ‘better’ decision is. At what point do we cross the line from helping and manipulating? How do we know if interventions are effective in real life? By studying behavioural economics I will gain the skills needed to investigate these questions. I want to learn how to design experiments, analyse evidence and link psychological findings with economic analysis. I would be particularly interested in applying these skills to personal finance as often small decisions can have long lasting affects and just giving advice often isn’t enough. While my experience of budgeting didn’t give me an answer it did make me ask a question. Why do people struggle so often to act upon what they value? And how can we help them? I want to study behavioural economics to investigate this question with a curious and passionate mindset.

In the past, a situation came into my life when I realized the disparity between intentions and real actions. This happened in relation to the budgeting system and making the most rational financial decisions. In other words, I understood clearly that I could not save the sum I needed. I was aware that I had to be attentive towards some things and I did not care about others; I knew that I could lose money for something trivial. The point that excited me here is not that fact itself but the one that even though I could realize all the negative results that may come from my actions, I still made them. I started wondering how many decisions that look like irrational may result from the particular form of presentation of this problem. It was very attractive for me to find out how behavioral economics could help to answer this question. As far as traditional economic models may show us very powerful ways of understanding the issue of incentives and the tradeoffs, behavioral economics allows considering such factors as habit, emotions, social influence, and lack of attention. Thus, I have an interest in the way how real people are going to make decisions. Also, it seems interesting for me to distinguish the difference between giving recommendations about better decision-making and the way of making people take this or that decision. There is the possibility to use a simple reminder, give a person more convenient comparison of various options or even change the defaults in order to make people choose this option automatically. However, it raises different questions: Who will decide which choice is better in each particular case? Can it turn out that these interventions can manipulate people instead of helping them to understand and choose something more suitable? Thus, I would like to have an opportunity to study behavioral economics. It will give me an opportunity to get acquainted with the methodological approaches used in this sphere and learn how to work in this field by myself. It will be very interesting to apply all this knowledge to the area of personal finance.

The first time I saw the discrepancy between what people say they will do and what they really do was when I was trying to stick to my budget. I had a clear budget, reasons to use it, and I was going to follow through on using it. However, the small purchases continued to add up. I became interested in this not because I was making bad decisions, but because I knew the consequences of making those decisions. I started thinking about how many seemingly irrational choices may be predictable based upon the way a decision is presented. I am drawn to behavioral economics due to its focus on the "how" behind decision making. While traditional economic models provide us with excellent tools for analyzing incentives and trade-offs, they do not account for other factors such as habits, emotions, social pressures, and attention limitations. Behavioral economics incorporates these aspects into the analysis. Therefore, I want to analyze how people actually make decisions, rather than how they could possibly make decisions in a perfect world. I'm especially interested in the difference between helping individuals choose more wisely and just telling them how to choose. A well-designed reminder, a better way to compare options, or changing a default can make a major decision easier to make, while maintaining each person's freedom. That possibility is exciting to me; however, it also raises some questions that I would like to explore thoroughly: Who determines what is considered a "better" choice? When does a helpful suggestion turn into manipulation? How can researchers know if an intervention will work outside of a single experiment? As a result of studying behavioral economics, I will be able to investigate these types of questions more thoroughly. I would like to gain knowledge about designing studies, evaluating the evidence that supports your findings, and combining what we know about how people behave psychologically with our economic analyses. I am particularly interested in using this knowledge in personal finance because it is an area in which many people make multiple, small decisions throughout their lives, each decision having long-term consequences and the use of "advice" as a sole source of help is frequently inadequate. Budgeting didn't provide me answers; however, it did create a lasting question in my mind: Why do people consistently fail to act upon their values, and how can we assist them in making acting on those values easier? Behavioral Economics provides a means for me to explore this issue with curiosity toward the study of human behavior and a desire to improve individuals' daily decision-making processes.

I first became aware of the difference between what people plan to accomplish, and what they actually achieve when I was attempting to cut back on spending. At the time I had a specific budget in place, an incentive to stick with that budget, and the complete intention to stay within the boundaries of the budget. However, little purchases continued to accumulate. My curiosity was not simply with the fact that I made bad choices, but rather that I did so knowing the outcome of those choices. I then started to question how many irrational-appearing choices are in reality rational reactions to how a choice is being presented. The reason I am interested in behavioral economics is that it addresses that very question. While traditional economic models have provided us with some of the best tools for understanding how we respond to incentives and trade-offs, they do not take into account the effect of habits, emotions, social pressures, or limited attention on our decision making processes. Behavioral economics provides a way to incorporate these factors into our analysis. My goal is to examine how individuals actually make decisions in their daily lives, as opposed to how they would make them if there were no constraints on their abilities. I'm especially interested in understanding the difference between assisting individuals in making better decisions and simply telling them what they should do. An effective reminder, a more complete comparison of alternatives, or a modified default can significantly ease a difficult decision while maintaining everyone's autonomy. While this potential is exciting, it also creates several issues that I would like to explore thoroughly: Who determines what constitutes a "better" decision? At which point does a gentle reminder turn into manipulation? How can researchers demonstrate that an intervention is effective beyond just one study? I would use my study of behavioral economics to examine those questions in a rigorous manner. I would like to gain knowledge on how to develop experimental designs, analyze evidence, and integrate psychological research with economic analysis. I am particularly interested in using my skills to study personal finance, as people make many small, frequent decisions that affect their financial well-being and because people do not always follow financial advice. My budgeting experiences didn't provide answers to my questions; however, they provided me with a lasting question. What causes individuals to have difficulty taking action on their values, and how can we assist them in making this process simpler? I am interested in studying behavioral economics because I believe that it provides us with an opportunity to explore that question while having both a sense of wonder about why humans behave as they do, and a desire to improve our daily decision-making.

My initial interest in the area of behavioral economics started when I was attempting to save money. I had developed a strict budget for myself based on my spending habits, a motivation to stick to the plan, and every intent to adhere to it. However, I found that through no fault of my own, smaller purchases were continually being added to the list. It was this realization that captured my imagination — I was not concerned with why I made bad decisions (the fact that I could anticipate the outcomes of my actions); however, I was curious as to why seemingly "irrational" decisions are, in reality, consistent and predictable responses to the manner in which decisions are framed. What attracted me to behavioral economics was its ability to seriously consider this inquiry. In contrast to traditional economic theories — which are useful for identifying incentives and evaluating tradeoffs — they may overlook how our daily lives are impacted by habits, emotions, peer pressure, and lack of focus. Behavioral economics includes these factors in a model and allows us to see how these elements influence individuals' decision-making processes. I wish to study how people make decisions in real life, rather than just how they should ideally make decisions. I find the distinction between assisting people in making better choices and instructing them as to what they should do to be of great interest. For example, a simple reminder or providing a clearer comparison of alternatives can greatly simplify an important decision without restricting someone's freedom to choose. Although this idea excites me, I recognize that there are many unanswered questions that I feel need to be explored. Some examples include: who gets to determine what constitutes a "better" option? At what point will a helpful prompt become coercive? How will researchers be able to measure the effectiveness of an intervention other than through a series of individual experiments? The opportunity to research behavioral economics will provide me with the knowledge base necessary to thoroughly investigate these issues. As such, I am interested in learning about how to conduct studies, assess evidence, and combine findings from psychological research with economic theory. Specifically, I would like to apply the skills I develop studying behavioral economics to the field of personal finance. This is an area in which repeated decisions regarding relatively small amounts of money can produce long-term effects and one in which advice typically fails to result in sustained positive changes. While my experiences with creating budgets did not lead to answers for me, it did create a persistent question that continues to guide my research interests today. Why do people frequently fail to take action regarding things they value, and how can we assist them in doing so? My desire to study behavioral economics stems from my belief that this area provides a means to pursue this inquiry using a combination of scientific curiosity about human behavior and an ongoing concern with developing methods for enhancing the quality of people's decision-making practices.

I first noticed this big gap between intentions and actions when I was trying to save money. I created a budget and tried my best to stick to it. But, I would end up making all of these little purchases throughout the day. It wasn’t until much later that I realized that these purchases were not very rational, but at the time I had thought that I was making these purchases for good reasons. What really interested me though was that despite knowing better, I still ended up making these poor choices. I wondered how many irrational choices people make every day that seem completely silly after the fact but were completely predictable at the time. Traditional economic models are well equipped to explain the way in which incentives and trade-offs affect choice. However, they frequently fail to take into account a number of influences that affect real world choice including habit, emotion, social influence and limited understanding. The aim of the study of behavioral economics is to understand choice as it is experienced in real life. I find it particularly fascinating to differentiate between enabling people to make better choices and simply telling them what to do. Making a decision easier by providing reminders, by comparing options in a more detailed manner or by changing the default does not have to infringe upon people’s freedom. The crucial question, however, is who determines what is better for people and when does a helpful nudge become manipulation? How can one be sure whether an intervention actually has an impact beyond the confines of a single experiment? By choosing to study behavioral economics I will be provided with the appropriate tools to investigate the specified question in sufficient depth, namely by learning to design and run experiments as well as to evaluate evidence and link results from psychological studies to economic analysis. A particular application of these skills would be of use when looking at personal finance, for it is here that small, often repeated decisions have the potential to have a very large impact and where advice is not enough to bring about change. My experience with trying to save money and stick to a budget helped form many of the questions I have been trying to pursue with the study of behavioral economics. The biggest remaining question for me is why people struggle to act on their values. If I can explore the ways in which people make decisions in all of their various complexities, then perhaps I can also develop methods for making better decisions more easily.

I think the first time I came across the knowledge that what people want and what they see themselves doing differ, I was saving money. I had a definite amount of money to spend and a definite objective for what I wanted to spend it on and a definite plan to do just that. However, it was little expenses that were piling up. It wasn't just that I made bad choices, it was that I did in understanding the consequences. I started calling up my own real irrational "no"s - how many times I do this kind of thing on itself is irrational, but it's only because it's presented that way. Why do I like behavioral economics? It respects that question. Traditional economic models have proven to be great frameworks to explain aspects of incentives and trade-offs, but they often fail to capture the influence of habit, emotion, social pressure, and limits on attention. Behavioral economics takes these influences into consideration. I want to know what people decide when they're out in the real world, not necessarily what they would decide under the best conditions. A big question of interest for me is: What is the difference between helping people make better choices and simply telling them to do so? Ensuring that a key decision is made more easily can be achieved with a good reminder or a better way of comparing options without denying anybody freedom. I like the idea, but it raises a number of questions for careful consideration: Who is determining which is the “better” choice? At what point does a little push transform into a push over? How can researchers determine if an intervention is effective when measured at a level higher than a single experiment? If I wanted to examine those questions thoroughly, I would certainly study behavioral economics. I would like to become more proficient in designing my experiments, analyzing evidence and linking my findings to our psychological economic analysis. I would be particularly interested in developing those skills and applying them to my own finances where every little decision is having an impact and advice alone will hardly suffice. Since I have not had an experience with budgeting it didn't really yield an answer, but it did give me a question I've carried around with me. Why is it that people have so much trouble living their values and how do we change that? I want to study behavioral economics because it has the potential to explore that question both with an inquisitive nature, and a desire to advance the decisions people make on a daily basis.

The first instance where I noticed a gap between what people want to do, and what they actually do was when I tried to save money. I set out to accomplish this task with a precise budget, a reason to adhere to it, and the plan to do so. However, small purchases kept occurring. What I found interesting was not that I made bad choices, but rather that I made them knowing what would happen. I started to think about how many choices that might seem irrational are actually predictable reactions to the presentation of a decision. I’m drawn to behavioral economics because it takes that question seriously. Traditional economic models are useful but can be misleading as they do not take habit, emotion, social influence, and limited attention into account. Behavioral economics incorporates these influences into the picture. I want to study how people make decisions in practice, not just how they would decide in the best possible world. I am especially curious about helping people make better choices versus just telling them what to do. An effective nudge, a clearer view of the choices, or a change in default can make an important choice easier, without removing anyone’s freedom. I find that possibility exciting, but it raises questions I want to explore further: who gets to decide what a “better” one is? At what point does something go from being helpful to manipulative? How can researchers determine whether an intervention works beyond one experiment? If I studied behavioral economics, I would be equipped to explore those questions. I want to know about the evidence that supports or refutes the ideas of psychology and how they can be connected to economics. I am particularly interested in applying those skills to personal finance, in which small and repeated decisions can have long-lasting effects, and where the advice is often not enough. My experience with budgeting did not arrive at an answer, but it did leave me with a question that has lingered. How come people so frequently struggle to do what they value? What can we do to make this easier? My interest in behavioral economics arises from my fascination towards the study of a matter that aims to transform the everyday choices of people at large.

As I was trying to save some money, I noticed for the first time a gap between what people intend to do and actually do. I had set a specific budget, had good reasons to follow it and intended it to stick. However, minor expenses continued to accrue. I did not just make poor decisions; I made poor decisions knowing full well that they were poor decisions. I wondered how many seemingly irrational choices are in fact predictable reactions to the way the choice is framed. Behavioral economics piques my interest because it treats that question seriously. Human beings are capable of modifying their thinking and response patterns through mental strategies, training, and rehearsal, as established by cognitive and behavioural psychologists. Behavioral economics takes these influences into account. I am interested in studying people’s decisions in real life, not just how they would decide in an ideal world. I’m especially interested in the difference between helping people make better choices and just telling them what to do. A well-designed prompt, a clearer comparative presentation of options or a change to a default can ease an important decision without removing anyone’s freedom. The prospect excites me, but also raises questions I want to interrogate:who determines whether this is a “better” one? When does influence cross over into manipulation? How can scientists tell whether something works beyond a single experiment? Studying behavioral economics would equip me to explore these questions more deeply. I am interested in learning about designing experiments, appraising evidence and linking psychological findings to economic analysis. I’m particularly interested in applying those skills to personal finance, an area where small decisions repeated over time can have sizable effects and where a lack of advice is often not the issue. My budget experience didn’t give me an answer, but it gave me a question that has stayed with me. People have trouble acting on what’s important to them. How can we make it easier for them to act? I am eager to study behavioral economics because it allows a scholar to answer that question while having a genuine curiosity about human behaviour as well as a commitment to improving everyday decisions.

The first time I became aware of the divergence between the intention and actions of individuals occurred when I was budgeting. I created a budget for my spending and had a clear reason for doing so and very good intention to follow it; yet small purchases kept adding up. What intrigued me was not solely that I experienced a failed decision; I also consciously knew of its consequences. I soon began to ponder how many of our types of irrational decisions are in fact predictable reactions to certain types of decision-making procedures. I am drawn to behavioral economics because it will enable me to ask this question. Classical economic models provide an invaluable analysis of incentives and trade-offs; however, they oftentimes leave out the influences of habits, emotions, peer pressure, and limited attention. Behavioral economics allows various influences to come into play; thus my interest in studying decision making in real life, not merely the way it should be done under ideal constraints. I am particularly interested in comparing the process of providing individuals with better options versus telling them what they should do. An effective prompt, more definitive measurement of alternatives, or alteration of a default state enables a person to easily make an effective decision without impinging on free choice. Although this potential excites me, it invokes other questions I would like to scrutinize thoroughly: who determines what is considered a “better” alternative, in what situations is a useful prompt simply a manipulative device, and how do researchers verify that an intervention is effective beyond one experiment? I wish to study behavioral economics because I want to acquire the skills to allow me to answer these questions. I wish to learn how to design experiments, gather and analyze data, and combine information from psychology and economic analysis. I hope to apply these skills to personal finance since minor, frequent decisions can have significant effects on our finances and since advice often fails to work with individuals.

The earliest decision-making behavior I observed and experienced was my decision to save my money. I had my budget, I had a reason to stick to it, and I believed I would. But I would end up making small purchases that would accumulate. It was not the decisions I was making that I found interesting; it was that I was making those decisions despite understanding what they would lead to. I wanted to know: How many seemingly irrational choices are actually consistent responses to how a decision is framed? Attracted by its emphasis on analyzing people's actions in the real world, I want to study behavioral economics because it is a discipline that takes the framing of a decision seriously. The tools of traditional economics are excellent at analyzing incentives and optimizing tradeoffs, but they do not capture the impact of habit, emotion, norms, and scarcity of attention. Behavioral economics examines how these factors shape behaviors, too. I want to understand how individuals make decisions in practice. You can write theories all day on how people should decide, but you won't know how they actually do unless you look at their behavior. I am interested in the interplay between encouraging better choices and coercing people into them. Often, a good reminder, a simplified list of options, or a change in default can nudge someone toward a choice that benefits both him and society without forcing him to take it. This idea appeals to me, but it also raises important questions I want to address: Who gets to determine whether the better decision is, in fact, better? When can an incentive become manipulation? How can you be sure your food experiment actually improved people's choices rather than those people's test performance? Studying behavioral economics will help me answer these questions with research that is clearheaded and rigorous. I want to learn how to build experiments, analyze evidence, and combine economic models with psychological findings. I want to apply what I learn to issues like money and saving, where behaviors that seem small have dramatic effects over time and where advice is not always enough. The question I am obsessed with: Why is making good decisions so hard, and how can we make it easier? I want to study behavioral economics because it can show us how to get there.

The first instance in which I realised there was a difference between what people intend to do and what they actually do was when I was attempting to save money. At that time I had a well-defined budget, a good reason for sticking to it, and all the intention of doing so. Nevertheless small purchases kept accumulating. What struck me was not merely that I made bad decisions; it was that I did so even though I knew the consequences of those decisions. I then started to think about how many of the choices which seem irrational are in fact predictable reactions to the way a decision is framed. I find behavioural economics interesting since it takes that question seriously. Although traditional economic models provide powerful tools for understanding incentives and trade-offs, they are unable to account for the effects of habit, emotion, social pressure, and limited attention. Behavioural economics incorporates these factors. My intention is to examine how people actually make decisions, not just how they would decide under ideal conditions. I'm especially interested in the distinction between helping people to make better choices and just telling them what to do. Whether it's a well-designed reminder, a clearer comparison of the available options, or a change in the default setting, it is possible to make an important decision easier without taking away anyone's freedom. This possibility is what excites me, but it also leads me to want to look at some questions carefully: Who gets to decide what constitutes a "better" choice? When does a helpful nudge cross the line into manipulation? And how can researchers determine whether an intervention works beyond just a single experiment? The study of behavioural economics would provide me with the means to examine those questions in a rigorous way. I would like to find out how to design experiments, assess evidence, and link psychological findings with economic analysis. Particularly, I would be interested in applying these skills to the area of personal finance, since small and repeated decisions can have long-term effects and because advice by itself usually isn't sufficient. The budgeting experience didn't provide me with an answer, but it did leave me with a question. Why do people so frequently find it difficult to act on what they value, and what can we do to make it easier? That is the reason I wish to study behavioural economics since it allows us to examine this question with both a curiosity regarding human behaviour and a dedication to helping people make better everyday decisions.