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Neuroeconomics

Decision making and the brain

We All Lie and Cheat, but Not Much

Having demolished the belief that most people are rational in his last two books, Duke researcher Dan Ariely puts to death the concept that "most people are honest" in his newest book, The Honest Truth About Dishonesty: How We Lie to…

Stronger Contracts, Less Trust

Business agreements are usually secured by written agreements that define the obligations of the parties and state what happens under various conditions. Having been party to a few business deals launched based mostly on enthusiasm and…

Nudge by Thaler and Sunstein

Nudge is all about choice architecture, a discipline which structures choices in a way that produces the most beneficial outcome. I don't have to tell Neuromarketing readers that humans often behave in conflict with the traditional…

The Upside of Irrationality by Dan Ariely

Nobody is doing more to add to our knowledge of the irrational side of human behavior than Dan Ariely. Not only does he conduct experiments that are elegant in their simplicity, but he writes about his work and that of other researchers in…

Closer to the Buy Button?

A specific part of the brain responsible for making decisions about value has been identified by neuroeconomics researchers at the University of Pennsylvania. Using fMRI, psychology professor Joseph Kable has shown that the…

What’s A Return Policy Worth?

Ask catalog or Internet retailers what a return cost them, and they will likely be able to cite some very specific numbers reflecting shipping costs, processing labor, damaged packaging, and so on. But it turns out there's a specific…

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…

Pricing Lessons from Restaurants

My last Neuromarketing post, Neuro-Menus and Restaurant Psychology, talked about various things restaurant menu engineers do to maximize sales and profits. I think it's worth calling special attention to one aspect touched on in that post:…