In part ONE, we’ve gone over biases, placebos, human interaction, behavioural economics, persuasive marketing, complementarity, and began the topic of nudging! In our second part, let’s jump to slicing digital marketing channels, explore nudging in-depth, and make a case for why behavioral economics should be taken into account in each one of them. The first...
In WW2, after the Allied Forces won back the European territories, they moved on to deal with Japan. Trying to avoid futile bloodshed, they’ve asked, during the Potsdam Conference, for unconditional surrender. Following this, the Japanese mass media requested a reply from their Prime Minister, and the only word he articulated was “mokusatsu”. As with...
In our previous article, we discussed the two worlds that we live in simultaneously – the social and the market one; then, we continued our analysis of human action & incentives and how these tie into anchoring, imprinting, and self-herding. In today’s article, we’ll be looking at how these relate to machine learning, going...
A little personal history My family is by far my favorite test subject. Sometimes my ‘experiments’ are well received; other times, they push the envelope. I’ve always been fond of running ‘mischievous’ tests on them only to observe behaviors in various contexts harmlessly. There isn’t even the slightest hint of malice, and they are...
At each of my last three keynote addresses, I was asked this simple question: “What do you think is going to happen with marketing in 2019?” It’s still only summer, but people are already trying to look ahead and see what’s around the curve. I understand why: The world is changing a mile a minute,...
