Behavioural Economics Breakfast: Resources16th Feb 2018
Mental Accounting of Sales; discusses the psychology of how consumers often have an idea of how much they’re willing to spend during a particular purchase or shopping experience, and why it’s important for marketers to be aware of this.
Example of #18 behavioural bias discussed in The Choice Factory
The story behind the brand wars of Hertz vs. Avis – ‘we’re No.2’
Nudges that fail – investigation by behavioural economics godfather, Cass Sunstein, into why some nudges fail and what we should learn from this.
- Daniel Kahneman – Thinking Fast & Slow – discusses System 1 & System 2 thinking which we discussed briefly during the breakfast
- Dan Ariely – Predictably Irrational
- Richard Shotton – The Choice Factory (worth mentioning now No.1 in advertising charts on Amazon)
- Decoded – The Science of Why We Buy
- The Art of Thinking Clearly, pdf summary can be found here
- The Behavioural Scientist; aggregates content of applications of behavioural science. Worth signing up to the newsletter if you’re looking to learn more about psychology in general, or looking for inspiration about what behavioural triggers you can apply more in marketing
- LSE Behavioural Science blog; keep up-to-date with latest experiments of applying behavioural economics to business
- TED collection of talks on behavioural economics
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