Sunday, February 6, 2011

Bundle: Microeconomic Insights from Citibank Data "Thanks to a cooperation with Citibank and other third-party data suppliers, Bundle is able to compile detailed statistics about how Americans are spending their money. While lots of banks also compile this data, Bundle is the first service to make this data easily accessible." Using Bundle, American citizens can investigate whether their spending patterns are in line with that of other people in their age and income group in their neighborhood. This brings a new twist to ideas from behavioural economics such as reference-dependency and other-regarding preferences.

Bundle plans to update its data on a quarterly basis. It also plans to allow users to enter their exact spending habits by either entering the data by hand or by giving users the option to upload credit card statements directly. In relation to self-reported spending habits, Dave, Liam and Colm have done research on "Experimental Tests of Survey Responses to Expenditure Questions". Bundle is also set to provide budgeting advice based on its users' spending habits. Bundle is a joint collaboration between Microsoft, Citigroup and Morningstar. The site fully integrates with Facebook and Twitter. A brief video from the folks at is shown below.

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