Behavioral Economics
The Commitment Effect & Its Role in Business
What is the Commitment Effect? When you make a decision on an idea, and then a more efficient, innovative alternative comes along, what do you...
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Halo effect and its role in business
Why do customers return to the same brand over and over? Why do managers select one employee above the others to handle important projects? Why...
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Time Discounting & Employee Rewards
Human Behavior and Business Human behavior plays a bigger role in business than you might think. Behavioral economics is the study founded and pioneered by...
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The Law of Reciprocity in Business
Human nature has a massive impact on all businesses, whether it is apparent or not. At times, human beings make irrational economic decisions. The study...
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Deliberate ignorance in the Business Setting
The first line of Aristotle's Metaphysics starts with a seemingly obvious truth "All men by nature want to know". According to Aristotle, our desire for...
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Decision Fatigue
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...
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The IKEA Effect and OKR: Boosting Employee Engagement
More and more, employee engagement has come to be considered one of the most important pillars of successful corporate strategy. According to the 2018 SHRM/Globoforce...
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Behavioral Economics and Employee Engagement
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...
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The Role Loss Aversion Plays in the Goal Setting Process
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...
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