Is agent-based modeling the future of behavioral science?
How has behavioral science shifted?
Nudging is as hot as ever. The application of behavioral science principles to real-world interventions has gained a huge popularity in the last 10 to 15 years. Admittedly, “nudging” and the wider family of interventions related to it have generated enormous amounts of impact at a relatively low cost (UK Pension auto-enrollment increased participation by close to 60%; FDA mandated calorie labeling in the states decreased daily calories consumed by about 100 on average, etc.). Given results like these, it’s not too surprising that people are excited about the approach (there are now over 500 “nudge units” across the world and counting). However, as with any scientific application, these first interventions have borrowed relatively simple principles from the behavioral sciences, focusing on easily modified frameworks such as biases or general rules about how people behave. This simplification has led to some failures and forced the field to advance.
As behavioral science research has come out on what works and what doesn’t, practitioners have learned that most findings don’t generalize as well as one might be tempted to suggest—increasing the importance and prevalence of running highly customized interventions. So, instead of just assuming that a signature at the top of a form is more likely to produce honest behavior because a (now proven dubious) experiment said so, a good practitioner might perhaps ask deeper questions like: what is the equivalent of a signature in the context of this app I’m working on? How can I more broadly define “honest” behavior to best measure impact? What kind of experimental design would allow me to see if this is an effective intervention?
References
- https://www.lse.ac.uk/PBS/People/Dr-Jens-Koed-Madsen
- https://www.sciencedirect.com/science/article/abs/pii/S0957417421006631
About the Author
Dr. Sekoul Krastev
Sekoul is a Co-Founder and Managing Director at The Decision Lab. He is a bestselling author of Intention - a book he wrote with Wiley on the mindful application of behavioral science in organizations. A decision scientist with a PhD in Decision Neuroscience from McGill University, Sekoul's work has been featured in peer-reviewed journals and has been presented at conferences around the world. Sekoul previously advised management on innovation and engagement strategy at The Boston Consulting Group as well as on online media strategy at Google. He has a deep interest in the applications of behavioral science to new technology and has published on these topics in places such as the Huffington Post and Strategy & Business.
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