Behavioral Economics focuses on the psychological, social, cultural, and emotional factors that influence decision making. It is commonly applied in the areas of marketing, user interface design, finance, politics, and public policy.
In fact, companies around the world have teams of behavioral scientists helping them decode human behavior that is often impulsive, short-sighted and irrational, to better influence our decision as consumers or ‘nudge’ us in selecting one product or brand over another.
On this Conversational Masterclass, Behavioral Economics Practitioner, Rohit Kaul, decode factors that influence our decisions as consumers. Also explained are key concepts like Bounded Rationality, Nudge Theory, Heuristics & Biases, and more. All of this illustrated through fun thought experiments and real-world applications by brands such as McDonald’s, Netflix, Uber, and others.
Rohit Kaul is General Manager Marketing at HCL Corporation and the Shiv Nadar Foundation. Catch his musings on Behavioral Sciences, Mental Models, Productivity, and more at seekingnorth.in