Insights Review

Posts categorized "Behavioral Economics"

A Behavioral Scientist’s Guide to Gift-Giving

Holidays and birthdays and anniversaries, in good times and in bad, in service of custom or in order to strengthen social bonds—the act of giving gifts is diverse in its motivations. But regardless...

October 15, 2014

Nobody Likes a Bad Deal

Selling prices often considerably exceed buying prices. People who indicate $400 as the most they would pay for a Super Bowl ticket appear to value it at $1,000 when indicating the least they would...

August 1, 2014

Rise of the Renter

In the bottom corner on the final page of the July 22, 1904 edition of The Minneapolis Journal, Great Western Cycle Co. placed an advertisement: 20 percent discount on bicycle purchases, “Edison New...

July 17, 2014

Higher Goals: How to Deal With Too Many Choices

What if there’s such as thing as choice overload, where consumers are confronted by so many options that they start to panic? Could it push them away and cause them to defer their purchases or...

July 9, 2014

Tasting Is Not Believing

Beliefs are stubborn. They don’t yield easily to the impress of experience. If you’ve long favored instant coffee over drip coffee, but one day taste a superior cup of drip, that doesn’t mean you’ll...

June 27, 2014

Beyond Good Intentions

Most people know how to improve their health, and many want to do it. Yet, despite good intentions, change is hard to achieve. Organizations across the country recognize this challenge and are...

June 2, 2014

Measuring the Reign of Moods

This question is of essential relevance to marketers, who advertise on the premise that shining positive light on a product will encourage consumers, later, to buy that product. But what if positive...

April 30, 2014

Maybe It’s Not About Time

Perhaps you established a strict monthly budget to save for retirement. But wouldn’t current-you rather spring for a last-minute vacation with friends? And yet experimental evidence that...

April 14, 2014

The Subtlety of Optimizing Sales

In order to generate maximum earnings from their sales forces, companies in the U.S. spend about $80 million on sales incentives every year.  Though these costs can consume up to 40 percent of a...

April 2, 2014