Nudging as a Tool to Improve Decisions in Finance and Accounting Solutions

During the day, thousands of decisions are made without us being aware of this effort. Cognitive shortcuts are used to make decisions. Known as heuristics, these cognitive shortcuts lead to errors resulting from these shortcuts called biases. This text presents a tools from choice architecture, named nudge, which are public or private initiatives that guide people in a direction, but do not limit their options, allowing them to follow their own path. The main decision-making theory, the choice architecture, is discussed with a focus on nudge, presenting its typology, conditions of use, and ethical discussions related to its application. Finally, the application of nudges in an organizational case is introduced. The case is in the context of microfinancing, with messages related to basic finance and motivational themes, aimed at the persistence of microentrepreneurs in their business. The results are exciting and could inspire the use of nudge in other financial contexts.