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The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

Feb 28, 2020

In a previous episode, I talked about a study on happiness which found that when asked if people thought they would be happier if they were to suddenly be a paraplegic or suddenly win the lottery, most everyone believes they would be happier winning the lottery and significantly less so to lose the use of their limbs.

Feb 21, 2020

Companies are getting more savvy about using behavioral economics not only to sell products, but to help consumers make better choices. Will Leach has taken the concepts of behavioral economics and social sciences to the next level with his book Marketing to Mindstates: The Practical Guide to Applying Behavior Design...

Feb 14, 2020

Social proof was introduced by Robert Cialdini in his book Influence. It’s one of the six principles of persuasion (accompanied by reciprocity, scarcity, authority, consistency, and liking). I talked about social proof in last week's episode on Peloton. I talked about the infamous ad that made Peloton have a dramatic...

Feb 7, 2020

Last year on the show, there were behavioral economics analyses of Apple Card, Costco and Starbucks and this is the first time in 2020 we will be digging into a specific company. I’ll talk about the infamous Peloton ad that made the company’s market value drop $1.5 billion in three days: what happened in the ad and...