Decision Fatigue

| Category: Behavioral Economics.

Decision Fatigue refers to the mental exhaustion that is caused after rigorous decision-making sessions. It addresses how the quality of decisions deteriorates after an individual is overloaded with too many decisions to make. Many of us use Netflix or some other online streaming service. We browse through the movie choices presented to us and think… Read more

The IKEA Effect and OKR: Boosting Employee Engagement

| Category: Behavioral Economics.

Engage \ in-ˈgāj: to occupy, attract, or involve someone’s interest or attention. Employee engagement is now at the forefront of successful corporate strategy. According to the 2018 SHRM/Globoforce Employee Recognition Report, leaders are using human-centered approaches to resolve retention, recruitment, and culture management challenges. And in the United States, the percentage of engaged workers is… Read more

Behavioral Economics and Employee Engagement

| Category: Behavioral Economics.

How many of us have landed our ideal dream job? According to the Gallup reports, only 33% of the U.S. labor force and 15% of the employees all over the world are engaged. We define engagement as actually interested in what they do for a living. Most people are just out there trying to earn… Read more

The Role Loss Aversion Plays in the Goal Setting Process

| Category: Behavioral Economics.

Loss aversion as its name implies occurs when the psychological impact of losing something outweighs the pleasure of gaining. The economists have identified loss aversion as one of the most common and powerful behavioral biases. Daniel Kahneman, a Nobel winning psychologist and economist, views his work on loss aversion as his most important. Kahneman through… Read more