New Effects and Old Paradoxes | Behavioraleconomics.com Newsletter

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Newsletter
December, 2019
BE Guide 2019
BE Guide 2019
Don’t forget to download the Behavioral Economics Guide 2019, featuring an introduction by Uri Gneezy, a guest editorial by Nina Mažar, and many interesting contributions from behavioral science practitioners.

If your organization would like to support and contribute to the 2020 edition, please get in touch.

Latest Insights
Exerting Self-Control ≠ Sacrificing Pleasure

In self-control experiments, choosing the hedonic vice-food (e.g. chocolate) over the utilitarian virtue-food (e.g. fruit) is usually interpreted as a self-control failure. The authors argue that self-control failures are better captured as choices that violate one’s long-term goals and induce regret. Self-control does not necessarily entail a trade-off between pleasure and health. This conceptualization has far-reaching consequences for consumers and policy-makers.

Rationality, Disclosure, and the “Privacy Paradox”

Many of us say we care about our privacy, but often disclose personal information. This asymmetry is called the “privacy paradox”. It is only a paradox, however, if we assume people are rational or engage in rational disclosure decision-making. Taking into account our cognitive biases and the way online platforms are designed, it comes as no surprise that our disclosure behavior doesn’t always match our privacy preferences.

The Secrecy Effect

Advertisers often depict their products being consumed in a social setting, but increasingly they also show people secretly consuming their products. Will consumers like a product more if they are prompted to consume it in secret? New research explores this question, finding that prompting women to think about consuming products in secret has an impact, not only on product evaluations, but also on behavior and willingness to pay for those products. The authors refer to this effect as the “secrecy effect.”

BE & Psychology in Marketing
BE & Psychology in Marketing
Learn how to apply principles from behavioral economics and psychology to improve marketing results.

Get a special deal when you sign up for the online course.

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