Tag: behavioral economics
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Episode 6: Using the idea of “utility” to calculate “value”
Economics gets a bad reputation for being wrong about things, or only measuring things in terms of dollars or GDP (gross domestic product). But most of these “bad raps” are simply because people don’t understand what economics is, and what it is actually capable of. When I talk about “economics”, I’m not talking about Adam…
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Episode 5: Consumers overvalue what they have, and that’s a problem.
Another derivative of what I call “ownership bias” is the difference between the willingness to accept money (WTA) and the willingness to pay money (WTP). People exhibit ownership bias when there is something that they feel is theirs; that they own. Let me take you on a quick mind-journey. Your grandfather carefully cut, planed, jointed,…
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Episode 4: How trying to avoid regret changes our behavior
Let’s talk about regret aversion. Again, fancy phrase, simple idea. Let’s go on a mind-journey! Imagine this. You’re at home cleaning out an old shoe box of junk. I mean, you’ve had this stuff forever since you were a kid. But do you really need that candy bar from 17 years ago that you’ve been…
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Episode 3: Why something being FREE is so compelling
Everyone loves free. There’s something truly magical about getting something that you value for free and the feeling seems universal. In another post I’ll talk about why we feel indebted when we get something for free, but for now, I want to focus on the feeling of free. If we want it; we take it.…
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Episode 2: What is Behavioral Economics? Part 2
This is sort of a Part 2 of the introduction. I talk about the basic setup of Behavioral Economics, what it is, and basic terms. I’ll get back to a nice long blog post next time! But enjoy this video for now. As proof of my bona fides I attach these notes from my masters…
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Episode 1: What Is Behavioral Economics? Part 1
Hello friends, I am planning on embarking on an epic quest, and I want you to come with me on my journey. Have you heard of behavioral economics? It’s a very fun, interesting field of research that combines decision making, social behavior, and brain science with our everyday human actions. I’ve been exploring the topic…
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Rating Your Projects A- Vs A+
In the last blog post Guthrie Weinschenk explained his idea about saving time and money by rating your projects before you start them. In this podcast Susan and Guthrie discuss how this works and why it works. You can subscribe to the HumanTech podcast through iTunes, Stitcher, or where ever you listen to podcasts.
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Behavioral Science vs. Behavioral Economics
What is behavioral science? How is it different from behavioral economics? And why are both so cool? Plus, Guthrie geeks out about Daniel Kahneman’s research. You can subscribe to the HumanTech podcast through iTunes, Stitcher, or where ever you listen to podcasts.
