DevStat’s Scientific Director awarded a prize for a new co-authored paper.

A paper co-authored by Jose Vila (Scientific Director of DevStat and Director of the DevStat Chair at University of Valencia) has been awarded with the prize to the best work in the category of practical contribution to the Colloquium of the International Actuarial Association – Life Section (IAALS) hold in Barcelona on 23 and 24 of October. The paper has been also co-authored by Jesus Garcia.

This work applies a Behavioural Economics approach, inspired on the methodology developed by the 2017 Nobel Prize in Economics Richard Thaler, to nudge the employees of a leading life insurance company in Spain to save more for their private retirement plans. The result of the paper is quite relevant for policy-making within the discussion of the sustainability of the public pension system in Spain and other European countries.