Saving in the short-term is one important way to prepare for the unexpected. Despite the benefits of doing so, our behavioral biases get in the way.
Why The Sharing Economy May Not Be As Eco-Friendly And Sustainable As You Think
Is sharing eco-friendly? If fewer people need to buy physical goods in order to derive some specific use from them, fewer resources need to be consumed to create these products, or so it goes. We reached out to Laura Straeter and Jessica Exton, two behavioral scientists at ING, a Dutch bank, to learn more about their research on how the sharing economy may not be as sustainable as we think.
Can’t Say No To Promotional Offers? Here’s Why
There's something that makes discounts too exciting to ignore. 50% off, buy one get one free, scratch cards, wheel of fortune — what is it about these different mechanisms that make them so irresistible? Learn about how different promotional tactics work and why we are attracted to them from a behavioral perspective.
Your Favorite Sports League Isn’t As Competitive As You Might Think. Behavioral Science Can Help Explain Why.
As Russian oligarchs and Emirs buy up teams in many sports leagues worldwide, a schism is being wedged between teams. Competitive balance, considered a central requirement for the success of leagues, is weakening in many leagues as a result. Behavioral science and results from experiments can shed some light on why leagues may not wish to push for reforms.
We’ve Got Something For Everyone: How The Business World Can Leverage The Psychology Behind Horoscopes
Horoscopes owe more of their tremendous popularity to psychology than astrology. As it turns out, the science behind why horoscopes are so popular can also offer interesting insights for the business world.
The Dos and Don’ts of Corporate Social Responsibility
Corporate Social Responsibility has become a buzzword for business executives. To remain competitive in this changing economic culture, firms tout their CSR programs, funnelling money into philanthropy, social movements, advertising their new green policies, and emphasizing their commitment to local communities.
The Halo Effect in Consumer Perception: Why Small Details Can Make a Big Difference
The halo effect plays a crucial role in how we perceive people. Through an experiment, we illustrate how the halo effect also impacts the way in which we perceive, judge and make decisions about products and services.
The Banned Wagon: Are Bans the Best Way to Solve the Plastic Problem?
Banning straws may be a good way to reduce our impact on the environment, but it is important to be cautious of the long-term behavioral repercussions.