Behavioral Economics Summit

October 21 – 22, 2015

How do we make choices? How does our environment shift those choices? How are our brains wired to choose? The ever-evolving field of behavioral economics, a cross-disciplinary collaboration between psychology, economics, and marketing, seeks to uncover a deeper understanding about the true motives and factors that influence decision making—what really makes consumers “tick.”

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RECHARGE YOUR MARKETING

In partnership with McKinsey & Company, Yale’s Center for Customer Insights (YCCI) announces a 1-day research-based program on October 22nd, along with an optional half-day review of previously covered material on October 21st.

The program begins with an optional half-day review of material covered in March’s inaugural Behavioral Economics Summit before diving into a full day of new sessions including: overcoming inertia and habits, mental construal, and designing experimentation.

Developed and taught by Yale’s world-class behavioral economics faculty, our fast-paced curriculum explores the factors that shape spending, how shifting consumer mindsets influence behavior, and how to design strategies tailored for your business needs.

Insight-packed discussions with peers and faculty weave through the vigorous agenda, delving into the most pressing topics in behavioral science. A moderated panel of diverse industry leaders helps crystallize the concepts with real-world business examples.  

NEW TOOLS, NEW PERSPECTIVE

Refresh and enhance your behavioral economics skillset with the cutting-edge tools you need to answer the challenges of today’s marketing, innovation, and research organizations.

 

STIMULATING DIALOGUE

Engage and connect with like-minded leaders across a wide array of industries and disciplines. The sessions are infused with lively discussions with other prominent professionals, spurring new ways to think about existing challenges.
 

IMMEDIATE IMPACT

Quickly turn leading theory into effective practice with an energetic agenda loaded with insight-rich presentations, dynamic exchanges, and thought-provoking faculty-led work sessions. This course methodically breaks down the fundamentals of behavioral economics and inspires immediate action.
 

Unlocking powerful customer insights requires an integration of theory and experimentation with rigorous analysis. The Yale approach is unique in combining these skills. – Ravi Dhar

PRAISE FROM PRIOR PARTICIPANTS

“Each of the lectures was very informative, and fortunately many of the summit attendees were more than willing to offer experiences and questions, creating a nice discussion…”

“The professors were engaging the content/discussions were relevant and it was backed up by studies and real business examples. It also validated a lot of the optimizations my team has made which was encouraging. I felt it was easily transferable to many different industries in the audience.”

“The overall quality and knowledge of the presenters was very memorable. We sometimes forget the depth of knowledge that academics have on specific topics. In industry, we move fast and furious covering multiple positions and rarely seem to have the time it takes to be a true subject matter expert on a topic.”

“Phenomenal networking. Rare to feel that you’re in a room with “your people,” but it certainly felt this way. Senior levels from a great mix of industries, facilitated great discussions. . . Probably the most I’ve ever taken from an out-of-office event like this.”

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Contact ycci@som.yale.edu with questions.

Yale Club of NYC
50 Vanderbilt Avenue
New York, NY 10017
United States
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Speakers

Ravi Dhar

Director, Yale Center for Customer Insights

Professor Dhar is an expert in consumer behavior and branding, marketing management, and marketing strategy. He has consulted to companies in a wide variety of industries, including financial services, high tech and luxury goods. His research...

Professor Dhar is an expert in consumer behavior and branding, marketing management, and marketing strategy. He has consulted to companies in a wide variety of industries, including financial services, high tech and luxury goods. His research involves using psychological and economic principles to identify successful consumer and competitive strategies in the offline and online marketplace. He has been involved in pioneering work in understanding the different factors that influence consumer choice and his research has received several major awards. His work has been mentioned in Business Week, The New York Times, The Financial Times, The Wall Street Journal, The Economist, USA Today, and other popular media. He has been a visiting professor at HEC Graduate School of Management in Paris, Erasmus University in the Netherlands, and the Graduate School of Business, Stanford University. He has written more than 50 articles and serves on the editorial boards of several of leading marketing journals, such as Journal of Consumer Research, Journal of Marketing, Journal of Marketing Research, and Marketing Science. He has led marketing seminars for senior executives in Asia, Europe, and North and South America. Professor Dhar was honored with the Distinguished Scientific Accomplishment Award of the Society for Consumer Psychology in March 2013. The American Marketing Association recently ranked Professor Dhar as the single most productive scholar publishing in premier marketing journals from 2009 through 2013.

Nathan Novemsky

Professor of Marketing

Professor Novemsky is Professor of Marketing in the Yale School of Management and has an appointment as Professor of Psychology in the Department of Psychology, Yale University. His is an expert in the psychology of judgment and decision-making,...

Professor Novemsky is Professor of Marketing in the Yale School of Management and has an appointment as Professor of Psychology in the Department of Psychology, Yale University. His is an expert in the psychology of judgment and decision-making, an area that overlaps heavily with behavioral economics and consumer behavior. He examines how people know what they like, how the way they frame decisions affects the choices they make, how their goals influence their behavior and other topics in judgment and decision-making. He teaches Problem Framing, a course unique to the Yale School of Management. This course teaches managers how to give structure to unstructured situations in a way that maximizes their chances of making good long-term decisions. It also teaches them about how to avoid the pitfalls characteristic of behavioral economics by understanding how natural psychological tendencies can derail optimal decision-making. He is also an active member of the Yale Center for Customer Insights. As part of the Center, he actively partners with practitioners to develop new insights into customer behavior that are both relevant to practitioners and new to the academic literature.

Shane Frederick

Professor of Marketing

Professor Frederick's research focuses on preference elicitation, framing effects, intertemporal choice, and decision-making under uncertainty. Before coming to Yale SOM he was associate professor of management science at Sloan School of...

Professor Frederick's research focuses on preference elicitation, framing effects, intertemporal choice, and decision-making under uncertainty. Before coming to Yale SOM he was associate professor of management science at Sloan School of Management at MIT. Prior to MIT, he was a research associate and lecturer at the Woodrow Wilson School of Public & International Affairs at Princeton University. Frederick holds a PhD in decision sciences from Carnegie Mellon University, an MA in resource management from Simon Fraser University, and a BS in zoology from the University of Wisconsin.

Shyam Venugopal

Vice President, Global Insights and Analytics at PepsiCo

Shyam Venugopal is the Vice President, Global Insights and Advanced Analytics at PepsiCo, where he leads PepsiCo's Global Insights & Analytics agenda including analytics capability development and operationalization, enterprise consumer and...

Shyam Venugopal is the Vice President, Global Insights and Advanced Analytics at PepsiCo, where he leads PepsiCo's Global Insights & Analytics agenda including analytics capability development and operationalization, enterprise consumer and syndicated data strategy, and elevating internal and external analytics partnership. A marketing analytics thought-leader with 15 years of experience of driving business results in Fortune 100 companies, Venugopal has excellent credentials in building and developing analytics organizations from ground up, and a track record of bringing about double digit ROI improvements on Multi-Million dollar marketing budgets. Prior to PepsiCo, Venugopal held positions at Market Fusion Analytics and Oracle. He sits on the Board of Trustees of the Marketing Sciences Institute (MSI), and the Board of Directors for the Marketing Accountability Standards Board (MASB).

Kevin Bolden

Vice President, Marketing Strategy and Insights Global Marketing at HP, Inc.

Kevin Bolden has served as the global head of Marketing Insights since HP’s inception in September 2015. In this role, he is responsible for deriving customer insights from a combination of research, analytics, and strategic analysis. From a...

Kevin Bolden has served as the global head of Marketing Insights since HP’s inception in September 2015. In this role, he is responsible for deriving customer insights from a combination of research, analytics, and strategic analysis. From a research perspective, Kevin leads the Customer Insights function which provides Customer, Marketing, and Product-based insights to our global business units. In the area of analytics, Kevin also leads the Marketing centralized analytics teams, utilizing HP’s install base and external sources in order to increase revenue, improve marketing and targeting, and enhance our customer experience through the application of advanced and predictive analytics. Kevin is also responsible for incubating and applying new innovations across marketing. Prior to his tenure at HP, Kevin has held leadership positions at Cisco, Capgemini, and Ernst & Young delivering technology, business intelligence, data warehouse and analytics capabilities globally.

Matt Valenti

Vice President, Guest Experience Intelligence at Starwood Hotels & Resorts

Matt Valenti is Vice President, Guest Experience Intelligence at Starwood Hotels & Resorts serving the global portfolio of 1200 hotels across 10 brands. The GEI Team creates metric alignment and enables the utility of its guest and customer...

Matt Valenti is Vice President, Guest Experience Intelligence at Starwood Hotels & Resorts serving the global portfolio of 1200 hotels across 10 brands. The GEI Team creates metric alignment and enables the utility of its guest and customer tracking programs, Brand Health assessments, and Consumer Affairs. Matt joined Starwood in 2004 and held several Talent Management roles, including: global sales selection; Service Culture Training ROI; and leading the global employee survey and performance management programs. Matt is an avid comic book collector and season ticket holder of the Philadelphia Eagles. He received his doctorate in Industrial/Organizational Psychology from New York University and graduated cum laude from Duke University.

Hotel Information

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Conference Events

DAY 1 (Optional): October 21ST

Registration

12:30pm-1:30pm

Welcome

1:30pm-1:45pm

Session 1 – 1:45pm-3:15pm

Opening The Black Box: How Consumers Really Make Decisions (Ravi Dhar)

This foundational session lays out the YCCI behavioral economics framework of consumer understanding through a blending of current academic research and industry case studies.

 

Break – 3:15pm-3:30pm

 

Session 2 – 3:30pm-4:45pm

Designing Satisfying Consumer Experiences (Nathan Novemsky)

Recent research has uncovered that consumers’ beliefs play a central role in shaping their experiences. Understanding those beliefs and how to activate the right ones at the right time is critical to building a positive consumer experience. This session will explore how hidden factors like belief-activation, key moments, duration, attribution, and rationalization can dramatically change overall customer satisfaction.

 

Networking Reception

5:00-6:30pm

 

DAY 2: October 22ND

Session 3 – 9:00am-10:00am

Mindsets and Self Control (Nathan Novemsky)

This session investigates powerful behavioral concepts like construal, proximity, self-rationing, and mental accounts to provide a new approach to deciding where, when, and how to message the consumer for greatest impact.

 

Session 4 – 10:00am-11:15am

Overcoming Inertia (Ravi Dhar)

When confronted with a choice, people’s frequent response is to do nothing. This session explores the choice of “no choice”—the power of inertia. Effective marketers can help consumers overcome this powerful inertia by increasing short-term benefits, decreasing short-term costs, and lessening the pain of up-front costs.

 

Morning Break – 11:15am-11:30am

 

Session 5 – 11:30am-1:00pm

Designing Experimentation (Shane Frederick)

This session builds your behavioral-testing tool kit with clear, step-by-step instruction and a hands-on practical work-session. Faculty work closely with participants to help them understand and be ready to craft behavioral research scope, goals, and methodology.

 

Lunch – 1:00pm-2:00pm

 

Session 6 – 2:00pm-3:30pm

How to Uncover Insights Using a Behavioral Science Lens (Nathan Novemsky)

This session investigates how an understanding of behavioral science concepts like goals, beliefs, or context can dramatically impact consumer research. We discuss how to design research to uncover actionable insight, even when consumers themselves do not know what is driving their own behavior.

 

Afternoon Break – 3:30-3:45pm

 

Session 7 – 3:45pm-4:45pm

Behavioral Economics in Practice – Panel Discussion

A McKinsey-moderated panel of leading industry experts including Matt Valenti, Starwood Hotels & Resorts, Kevin Bolden, Hewlett-Packard, and Shyam Venugopal, Pepsico will discuss:

  • Creating Successful Test-And-Learn Programs - What do successful continuous learning programs look like in different industries, and how can companies overcome barriers to more systematic learning by doing with customers?
  • Rethinking Customer Engagement – What creative strategies are companies using to figure out how best to use the increasing number of customer touch points available to them?
  • Overcoming Customer Inertia - What are companies learning about how to break customers out of habitual purchase patterns in the face of innovation?

 

Closing Remarks – 4:45pm