Money, Decisions, and Control

CGAP Working Paper, 2017

Posted: 27 Jul 2017 Last revised: 16 Apr 2020

See all articles by Ignacio Mas

Ignacio Mas

Tufts University

Gayatri Murthy

World Bank - Consultative Group to Assist the Poor (CGAP)

Date Written: July 24, 2017


We present a model of human decision-making that can be used to design future financial services. The purpose of our model is to collate a wide variety of observed financial practices of the privileged and the poor into a common framework that can be applied in different contexts. Think of it as a vocabulary with which to organize our financial behavior and a set of design principles for financial services that can accommodate and facilitate this behavior. Such services will offer greater control to customers and will generate greater value for the businesses serving them.

Keywords: Financial Inclusion, Mobile Money, Financial Management, Financial Education

Suggested Citation

Mas, Ignacio and Murthy, Gayatri, Money, Decisions, and Control (July 24, 2017). CGAP Working Paper, 2017, Available at SSRN:

Ignacio Mas (Contact Author)

Tufts University ( email )

Medford, MA 02155
United States

Gayatri Murthy

World Bank - Consultative Group to Assist the Poor (CGAP)

1818 H St NW
Washington, DC
United States

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