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Behavioral Economics

62 articles
Halo effect and its role in business
Behavioral Economics
4 min read · May 31, 2021

Halo Effect and its Role in Business

TL;DR The halo effect is a cognitive bias where one strong positive (or negative) trait shapes how we judge a…

Bastin Gerald Bastin Gerald
Time-discounting-and-employee-rewards
Behavioral Economics
5 min read · May 18, 2021

Time Discounting & Employee Rewards

TL;DR Time discounting is a behavioral economics concept that explains why people often prefer smaller, immediate rewards over larger, delayed…

Bastin Gerald Bastin Gerald
The Law of Reciprocity in Business
Behavioral Economics
4 min read · May 18, 2021

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…

Bastin Gerald Bastin Gerald
business-settings
Behavioral Economics
10 min read · March 20, 2020

Deliberate ignorance in the Business Setting

TL;DR Deliberate ignorance in business is the intentional avoidance of information that may be uncomfortable, risky, or demand change. While…

Bastin Gerald Bastin Gerald
decision-fatique
Behavioral Economics
4 min read · October 10, 2019

Decision Fatigue

TL;DR Decision fatigue is a behavioral economics concept that describes the mental exhaustion people experience after making too many decisions,…

Bastin Gerald Bastin Gerald
ikea-effect-and-okr-boosting-employee-engagement
Behavioral Economics
1 min read · October 3, 2019

The IKEA Effect and OKR: Boosting Employee Engagement

TL;DR The IKEA Effect shows that people value what they help create. In the workplace, engagement rises when employees actively…

Bastin Gerald Bastin Gerald
behavior_economics
Behavioral Economics
4 min read · October 3, 2019

Behavioral Economics and Employee Engagement

TL;DR Employee engagement is driven less by salary alone and more by psychological factors such as recognition, fairness, autonomy, purpose,…

Bastin Gerald Bastin Gerald
The Role Loss Aversion Plays in the Goal Setting Process
Behavioral Economics
7 min read · October 1, 2019

The Role Loss Aversion Plays in the Goal Setting Process

TL;DR Loss aversion is the behavioral bias where people fear losses more than they value equivalent gains. In goal setting,…

Bastin Gerald Bastin Gerald