Do You Get the Power of Behavioural Economics?

2018 ◽  
pp. 140-155
Keyword(s):  
Behavioural Economics

CHOICE ARCHITECTURE IN SHAKESPEARE’S PUBLIC MEETINGS: NUDGE THEORY AND RICHARD III, CORIOLANUS, AND JULIUS CAESAR

2020 ◽  
Author(s):  
Ceri Sullivan
Keyword(s):  
Decision Making ◽  
Early Modern ◽  
Behavioural Economics ◽  
The Political ◽  
Julius Caesar ◽  
Choice Architecture ◽  
Group Norms ◽  
Richard Iii ◽  
Public Meetings

Abstract The political and dramatic intentions behind the use of appeals to the early modern public (on and off stage) have already been examined by Shakespeareans. This article points out the technical workings of such appeals by using two new areas of research on decision-making: the ethnography of public meetings and behavioural economics on how to influence choosers. These theories can illuminate the strategies used by the tribunes in handling the citizens of Coriolanus, by Antony in dealing with the plebeians in Julius Caesar, and by Buckingham and Richard when gathering support from the Londoners in Richard III. Using six common psychological biases (anchor-and-adjust, availability, representativeness, priming, arousal, and group norms), Shakespeare’s politicians prompt their hearers to change their minds: a celebrity warrior is recast as a wily tyrant, an execution as a murder, and a regent as the legitimate king.

The Importance of Rank for Shorter, Smarter Surveys

2014 ◽  
Vol 56 (6) ◽  
pp. 717-736 ◽  
Author(s):  
Kyle Findlay ◽  
Jan Hofmeyr ◽  
Alice Louw
Keyword(s):  
Market Research ◽  
Behavioural Economics ◽  
Research Paradigm ◽  
Less Is More ◽  
Traditional Market ◽  
Practical Guidelines ◽  
The Right

The traditional market research paradigm believes that, the more data you measure, the more potential for insight the data will hold. However, this paper takes the counter-intuitive standpoint that ‘less is more’. Drawing on the authors’ familiarity with neuroscience and behavioural economics, as well as five years’ worth of panel behavioural data in three categories and data from 2,769 studies across 1.9 million respondents, the paper argues that, just as it is important to ask the right questions in a survey, it is similarly important to measure ‘just enough’ but not too much information about brands. We show that measuring too much data is unnecessary and can even be detrimental to the richness of your data. Readers should take away practical guidelines for creating shorter, smarter surveys that still maintain the integrity of their data … and perhaps even improve it.

Behavioural economics

1991 ◽  
Vol 12 (2) ◽  
pp. 401-406
Author(s):  
Gordon R. Foxall
Keyword(s):  
Behavioural Economics

Hobo Economicus

2022 ◽  
Author(s):  
Peter T Leeson ◽  
R August Hardy ◽  
Paola A Suarez
Keyword(s):  
Behavioural Economics ◽  
Washington Dc ◽  
Rates Of Return

Abstract The central implication of maximising behaviour amid competition is that rates of return tend toward equality. We test that implication in a market whose participants have the traits that behavioural economics suggests should make it hardest to find evidence of maximisation: the market for panhandling at Metrorail stations in Washington, DC. We find that stations with more panhandling opportunities attract more panhandlers and that cross-station differences in hourly panhandling receipts are statistically indistinguishable from zero. Panhandling rates of return thus tend toward equality. Extreme ‘behavioural’ traits do not prevent maximisation in this market.

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