Outcomes of corporate misconduct

Behavioral Science and Corporate Decision-Making: Potential for Improvement?

Consumer decision-making processes have been at the centre of attention of a variety of public and private actors, from public regulators to non-profit initiatives. Insights of behavioural science are being used to encourage better choices in areas ranging from food to financial planning and organ donation. Within the private sector, behavioural knowledge is being employed in marketing and investment. However, the area of corporate decision-making remains mostly unaffected by the advances of behavioural economics. Rectifying this can help businesses become more efficient and more responsible. ….[READ]