Posted on 5 October 2020 by

International seminar: Financial education and risk literacy

Tuesday, 20th October 2020 – from 4:00 pm to 6:30 pm
Museum of Saving, Via San Francesco d’Assisi 8/A, Turin (IT)

This international seminar will represent the occasion for the presentation of the book published by Elgar entitled “Financial Education and Risk Literacy” forming part of BEFAIRLY – Behavioural Financial Regulation and Policy Series- an initiative started in 2017 by Herbert Simon Society in collaboration with the Bank of Italy and the Max Planck Institute for Human Development.

This innovative book explores the relationship between financial literacy, financial education and regulation, and risk literacy providing a broad range of different perspectives.

The seminar will debate on the social and cultural determinants of financial education, the role of the banking system in promoting financial literacy, how governments and regulatory authorities are dealing with financial education programmes in schools, the role of technology, and the effect of financial literacy and risk perception on investment choices.

Featuring interventions from different methodological backgrounds, the seminar will offer a rich and multifaceted debate exploring theory and empirical evidence, combining traditional approaches linked to the characteristics of financial markets with the insights drawn from behavioural research showing how this can create better financial education.

The seminar will include the interventions of international experts as keynote speakers such as Prof. Hersh Shefrin (University of Santa Clara) and Ralph Hertwig (Max Planck Institute).

A discussion will follow on the characteristics of behaviours that might affect the policy maker’s mix of financial education, choice architecture, and regulation as tools to help consumer financial behavior. Finally, conclusions will be provided by Prof. Elsa Fornero (University of Turin).

Posted on 18 May 2020 by

The Digital World, Cognition and Behaviour – Call for Papers

We invite contributions to a Special issue of

Guest editors of the Special Issue:

  • Gerd Gigerenzer (Harding Center for Risk Literacy,
    Max Planck Institute for Human Development, Berlin)
  • Konstantinos Katsikopoulos (University of Southampton)
  • Marco Fasoli (Università di Milano-Bicocca)


In recent years, digital technologies have become incredibly pervasive in our daily life. This process has brought about many advantages, but it has also changed numerous human cognitive practices in different ways, leading to the rise of new problems and challenges. For example, in the wake of an ever-growing presence of digital technologies we are constantly called to manage a staggering amount of information, communications and notifications (the so-called “information overload”) and we keep being interrupted, dividing our attention across several tasks at the same time. By providing new ways of storing and retrieving information, digital technologies have modified the function and the role of human memory. In general, digital technologies have changed the role of many cognitive abilities in our daily life, making some of them more necessary while rendering others seemingly obsolete. One of the crucial abilities required by the digital world is the ability to evaluate information and to discriminate between real and fake news online. 

Against this background, cognitive and behavioural scientists are called to help policy-makers understand how digital technologies are reshaping our minds. In this sense, it becomes necessary to understand which cognitive abilities would be required in the digital world to cope with information overload or to debunk fake news, and how we can facilitate the development of such abilities among internet users. Furthermore, there is the need to understand which heuristics and biases occur when we navigate the internet, as well as how our behaviour could be nudged through big data, for the purpose of establishing some safeguards for modern societies against any improper uses of such data.

Main Special Issue Topics     

  • Fake news, epistemic attitudes, and cognitive abilities.
  • Heuristics, ecological rationality and digital decision making.
  • Biases and heuristics in the digital world.
  • Big data and their cognitive, epistemic, and ethical implications.
  • The Behavioural sciences in E-Commerce and Advertising.
  • The digital nudging and Democracy.
  • Attention, task switching, and multitasking.
  • Reading and digital reading in the digital era.
  • Digital well-being: theoretical perspectives and empirical insights.
  • Cognitive artefacts, cognitive techniques, and digital technologies.
  • Cognitive affordances and cognitive properties of digital technologies.
  • Digital and cognitive persuasion in gamification: ethical issues.
  • Social networks, social comparison, and digital communication.
  • Digital stress and information overload.
  • Emotions and emotional intelligence in the digital world.
  • The design of addiction of digital technologies.
  • Fintech, Bot and Artificial Intelligence in Digital Financial Decision making.
  • Cybersecurity.

If your work coincides with our theme, please submit the paper sending it to the email for evaluation.

DEADLINE to complete papers, no more than 5000 words including references, is September 30, 2020.

Posted on 30 May 2019 by

Visiting at Tsinghua University, Beijing, China

Dear all,

we are pleased to show you the photos taken during the visit of Dr. Valeria Castoldi, the executive manager of HSS, at the prestigious Tsinghua University, Beijing.

Professor Qian from the School of Social Sciences, offered Dr. Castoldi the opportunity to give a talk about the study on the effect of nudging on blood donation, coordinated by Prof. Viale and Prof. Macchi at the Bicocca University-Milan.

It was possible also to have a meeting with Professor Luan from the Chinese Academy of Sciences – Beijing to discuss an agreement between HSS, University of Milan – Bicocca, Tsinghua University and the Chinese Academy of Sciences.  The intercultural collaboration could provide new hint on the research on Behavioral Sciences!

Thank again Prof. Qian and Prof. Luan for the significant experience!


Posted on 3 December 2017 by

Onorato Castellino Lecture “How to Engineer Our Future: Risk Literacy or Nudging?”

Turin (Italy), Collegio Carlo Alberto
7th December 2017, 6pm

Gerd Gigerenzer (Director of Harding Center for Risk Literacy at the Max Planck Institute
for Human Development, Berlin)

Introduction by Elsa Fornero (University of Turin and CeRP – Collegio Carlo Alberto)
and Riccardo Viale (University of Milan-Bicocca and Herbert Simon Society)

The event is jointly organized by the Collegio Carlo Alberto with CeRP and the Herbert Simon Society lecture-gerd- gigerenzer/

Posted on 3 December 2017 by

1st International Workshop: BeFiRP Behavioral Finance Revolution and The Financial Regulations and Policies

Rome (Italy), Bank of Italy
6th December 2017

With the support of
compagnia sanpaolo

and in collaboration with
Intesa Sanpaolo

Download programme

Posted on 3 December 2017 by

International Workshop: Uncertainty, Heuristics, and Finance

Madrid (Spain), Facultad de Psicología
4th December 2017, 11 am

Organized by
Spanish Journal of Psychology

Herbert Simon Society

with the support of 
compagnia sanpaolo

Download programme

Posted on 10 November 2016 by

Cognitive Unconscious and Human Rationality

“Cognitive Unconscious and Human Rationality”
by L. Macchi and R. Viale
University of Pennsylvania, 17th November 2016




Posted on 10 November 2016 by

Cognitive Unconscious and Human Rationality

“Cognitive Unconscious and Human Rationality”
by L. Macchi and R. Viale
University of New York, 15th November 2016

Marco Pangallo wins Herbert Simon Society Award
Posted on 8 November 2016 by

Marco Pangallo wins Herbert Simon Society Award

During the International Workshop 3 grants of 400,00 Euros each have been awarded to the best three proposals of junior applicants.

  • First Scholarship to Marco Pangallo
  • Second Scholarship to Linda Alengoz
  • Third Scholarship to Emanuela Testa

Posted on 15 October 2016 by

Fourth International Workshop: Behavioral Economics Nudges and Heuristics for Public Policies

Turin, 15th October 2016
3 grants of 400 Euros each will be awarded to the best three proposals of junior applicants
Download Programme

Donwload all abstracts



Pietro Terna President, Collegio Carlo Alberto, Turin
Riccardo Viale General Secretary, Herbert Simon Society, Università degli Studi di Milano – Bicocca
Chairman: Francesco Ramella CPS Department, Università di Torino

What Heuristics for Public Policies
Keynote speech: Gerd Gigerenzer
Max Planck Institute for Human Development, Berlin and President, International Herbert Simon Society


A Roadmap from Full to Bounded Rationality
Mousavi Shabnam Johns Hopkins Univ. Baltimore, Max Planck Institute for Human Development, Berlin

Image and policy: why different representational strategies matter
Jan Gerrit Schuurmann Max Planck Institute for Human Development, Berlin

Simon’s Legacy on Bounded Rationality: Opportunities for a Neuroscience-Based Shared Research Agenda
Duccio Martelli Departement of Economics, University of Perugia

A taxonomy of learning dynamics in 2 X 2 games
Marco Pangallo Institute for New Economic Thinking, Oxford Martin School, Univ. of Oxford, UK

The Approach of Quantum Cognition to Modeling Classical Rationality Violation
Franco Vaio PhD in Anthropology and Epistemology of Complexity, University of Bergamo


Information Representations to Boost Statistical Literacy
Michelle McDowell Max Planck Institute for Human Development, Center for Adaptive Behavior and Cognition, Berlin

Boosting decisions with fast and frugal trees
Mirjam Jenny Harding Center for Risk Literacy, Max Planck Institute for Human Development, Berlin

Mis-Judging Merit: The Effects of Adjudication Errors in Contests
Luca Stanca Dept. of Economics Management and Statistics, University of Milan-Bicocca

The anchor that makes you safe cannot help much. Heuristics of information search and communication in an online forum of investors under market uncertainty
Manuela Testa Department of Economics and Management, University of Brescia

A behavioural principal-agent theory to study corruption and tax evasion
Luca Di Donato PhD Candidate at LUISS Guido Carli University, Rome


Nudge of shared information responsibilities: a meso-economic perspective of the Italian consumer credit reform
Umberto Filotto Università di Tor Vergata, Rome
Caterina Lucarelli Università Politecnica delle Marche, Ancona

Using social norms and pre-populated forms to improve tax collection in Manises
Quique Belenguer Managing Director of mints&brains, Valencia, ESIC Business School, Valencia

Improving the Accuracy of Self-declarations: A Natural Field Experiment
Luigi Mittone Director CEEL and School of Social Sciences, University of Trento

Price dispersion and consumer inattention: evidence from the market of bank accounts
Nicola Branzoli Financial stability Directorate, Bank of Italy

Reputational effects and perceived value of “Smart Heuristics” VS Normative advisors’ recommendations
Davide Pietroni Dept. of Neurosciences, Imaging and Clinical Sciences – University of Chieti-Pescara
Sibylla Verdi Hugues University of Padua, CLA


Duality of Mind and the Libertarian Paternalism
Keynote Speech: Riccardo Viale General Secretary, Herbert Simon Society, Università degli Studi di Milano – Bicocca

Applying behavioural insights to regulated markets
Elisabeth Costa BIT, Behavioural Insights Team, London

Trustlab – Crosss – Country Comparable Data on Trust and other social Norms (presentation)
Fabrice Murtin OECD, Paris


Framing Effects in Intertemporal Choice: A Nudge Experiment
Valeria Faralla DIGSPES Dept. Università del Piemonte Orientale Amedeo Avogadro, Alessandria

Nudge and well-being: a gentle push to promote people’s well-being in the Italian context
Francesco Pozzi IULM University and IESCUM, Milan

Nudging for increased participation: competitive public good games
Giacomo Sillari LUISS Guido Carli, Rome

An experimental study on the impact of social mood on business strategies
Linda Alengoz Dept. of Economics and Management, University of Brescia

On the impact of technology based-monitoring on workers’ behaviors: Experimental investigation
Peguy Ndodjang University of Montpellier- LAMETA


Nudging towards satisficing?
Barbara Fasolo Dept. of Management, London School of Economics and Political Science, London
Raffaella Misuraca University of Palermo

A relevance-oriented rationality and the interpretative function of language and thought: The case of the nudge
Laura Macchi University of Milano, Bicocca

An Ecology of Nudges
Antonio Mastrogiorgio Dept. of Neurosciences, Imaging and Clinical Sciences, Univ. of Chieti-Pescara


Nudge or Boost?
Keynote Speech: Ralph Hertwig Max Planck Institute for Human Development, Berlin

Massimo Egidi Vice President, Herbert Simon Society and LUISS, Rome


In collaboration with

Mind & Society

and with

  • International MAPS  – Master in Public Policy and Social Change and CPS Department of Cultures, Politics and Society
  • Collegio Carlo Alberto, University of Turin

With the support of
compagnia sanpaolo

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