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Misbehaving in the Real World
We don't make rational decisions most of the time. Many of the decisions we make have little consequence. It would be nice to become better at choosing the thing of the most value for a change. But much of it depends on what we value, and part of it is contextual and emotional. Richard Thaler…
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Applying Behavioral Economics to Identify and Diagnose Problems and Design Tools
We constantly seek a better understanding of human decision making. Everything would go according to plan, if it just weren't for the people. People are complex, and we live in complex times. Greater collaboration between units or teams is a desirable trait, it is however still an aspirational goal rather than a reality in many…
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Coming up for a Name for Doing the Small Stuff that Matters
Rory Sutherland makes the case for how paying attention to details helps us solve problems, the things we actually deal with in everyday life. […] we don't spend nearly enough money looking for those things, looking for those tiny things that may or may not work, but which, if they do work, can have a…
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Applying Behavioral Economics to Identify and Diagnose Problems and Design Tools
The recent news about the decision by Publicis and Omincom not to merge ten months after the announcement# last July might end up benefiting clients even as it is an example of what agencies typically counsel clients against: lack of meetings of the minds. Whether it was a battle for control#, settling the issue of…
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Make What you Offer Customers Stand out
In their minds and get word of mouth for your business. Trust is fragile. In a recent post about the intangible art of trust at American Express OPEN, Matthew May cited consumer behaviorist Ernest Dichter. In the 1950s, Dichter determined that most people perceive at least five dimensions of downside risk every time they engage…
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What Really Affects Behavior?
[click on image to enlarge] This is the title of an article Terry Grapentine and Dianne Altman Weaver authored for the Winter 2009 issue of Marketing Research (MR). Given the audience, their focus is looking at marketing research as connected with behavioral economics. You won't find the article in the links I provided, the…