We’re Paying CEOs All Wrong Fred Whittlesey, a compensation consultant for more than three decades, would like his colleagues to take more seriously the weird ways our brains work. In a 2009 paper, he argued that when corporate boards decide … Continue reading How to motivate the executive brain
Why Behavioral Economics Is Really Marketing Science Economists rarely mention marketing. Occasionally an article appears in the American Economic Review on advertising or promotion or warranties. But to most economists, marketing is a sideshow in the economy. It is filled … Continue reading Marketing vs. economics soul searching
Numbers don’t need to be trusted to shape our lives: they just need our attention The 1820s is often seen as the moment when an enthusiasm for numbers started to take hold. Ever since, there has been a growing impulse … Continue reading Do you trust the numbers?
The leadership effect – how leaders can shift perceptions of parties Theresa May is seen as continuity-Cameron in ideological terms, a new YouGov poll reveals. The new Prime Minister is seen by the public as fractionally less right wing than … Continue reading Are you left or right?
To have and to hold Adam Smith remarked that no dog ever made a free and fair exchange of one bone for another. Many pooch-owners will agree, having spent frustrating minutes trying to wrestle a stick or a ball off … Continue reading The endowment effect in India
Trust, Sharing Economy and Behavioral Economics Trust. It’s a complex, tricky, hard to explain, harder to define concept, but it’s crucial for so many things. As Adam Smith pointed out, a base level of trust in society is necessary for … Continue reading Trust in the sharing economy
What are Motivated Beliefs? “Motivated beliefs” is a relatively recent development economics which offers a position between traditional assumptions of rational and purposeful behavior and the conventional approaches of behavioral economics. It is introduced and explored in a symposium in … Continue reading People believe what they want to believe