Behavioral Economics

26/12/2024 19 min

Listen "Behavioral Economics"

Episode Synopsis

We discuss the use of behavioural economics in marketing and business, explaining how understanding human psychology can lead to more effective strategies. The first source, "3 Applications of Behavioural Economics in the Real World", focuses on the Decision Lab's mission to empower individuals through evidence-based choices. The second source, "9 Eye-Opening Examples of Behavioural Economics in Marketing", provides a comprehensive overview of common behavioural economics principles used in marketing, illustrated with real-world examples from companies such as Starbucks and Amazon. The third source, "The Use of Behavioural Economics in the Business Sector", explores how these principles are applied across various sectors, including finance, retail, human resources, and customer service. The article showcases how companies have used behavioural economics to increase conversions, attract candidates, and improve customer retention.

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