#EconomicSurvey draws on #BehaviouralEconomics to lay the roadmap for #growth.
I was happy to read this news:
https://lnkd.in/eBwc6cW
Behavioral Economics is an emerging science embraced & institutionalized by #Governments and #Corporates across the globe since #Richard H Thaler won the #Noble for Behavioral Economics in 2017.
The power of Behavioral Economics:
Once you understand how our brain works (its inherent biases), you can successfully (and ethically) move people towards taking an action you want them to take.
Here are 2 #global examples to help you appreciate the emerging trend
1. UK Govt Cabinet has a Behavioral Insights Team (BIT) to improve government policy and service as well as to save the UK Govt Money.
2. #DanAriely (author of NYT Best seller "Predictably Irrational - The hidden forces that shape our decisions)as its chief behavioral officer, Lemonade is the first peer-to-peer insurance company rapidly gaining “crazy market share” by building on fundamental principles of behavioral science -
https://lnkd.in/eFaXMKx
No comments:
Post a Comment