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Secrets of the Moneylab

Book Review: Secrets of the Moneylab: How Behavioral Economics Can Impact Your Business by Kay Yut Chen with Marina Krakovsky

Economics can be dry stuff – remember “macro,” “micro,” and supply/demand curves? Fortunately, Secrets of the Moneylab is a […]

By |January 25th, 2011|

Scary Thought: A Treatment for Impulse Buying

Here’s a thought that would terrify many marketers… what if consumers prone to impulsive behavior decided to take a pill to quiet those impulses? While clearly lack of impulse control is a serious issue for some individuals and can lead to extreme behavior, marketers of everything from checkout lane mints to Porsches depend to some degree on consumers acting impulsively. Wall Street Journal editor Jason Zweig is interviewed by Morningstar’s Christine Benz below: […]

By |October 7th, 2010|

You Are What You Choose

Based on the title and cover art, which shows a head stuffed with objects, I anticipated that You Are What You Choose would be chock full of decision-making insights based on neuroscience and behavioral research. Instead, de Marchi and Hamilton mostly talk about their TRAITS system for categorizing individuals and then predicting subsequent behavior.

By |December 17th, 2009|

How We Decide

Book Review: How We Decide by Jonah Lehrer
Jonah Lehrer has been translating neuroscience into prose comprehensible by the lay reader for years, and How We Decide helps readers understand and even apply current research in the process of human decision-making.

Lehrer begins with a look at expert decision-making, and how individuals with the right training and experience can make high quality decisions seemingly with little or no conscious thought. A football quarterback, for example, has only a second or two after the ball is snapped to analyze the entire field, ascertain what strategy the defense is employing, determine where one of his own receivers is likely to be most open, and then throw the football to the spot where that player will be by the time the ball gets there. […]

By |October 8th, 2009|

Bikinis, Babes, and Buying

Scantily clad women have been used to sell products to men for decades, and likely for millennia in one form or another. There’s little doubt that the typical male brain is wired to respond to attractive females in revealing attire. But is this a cheap attention-getting trick that has no real impact on sales, or does it actually work? Researchers shed new light on this topic by exposing subjects to either videos of women in bikinis or more neutral videos, and evaluating their decision making ability. […]

By |June 24th, 2008|