Best of The Blogs- Behavioural Problems.
There's an awful lot of noise around behavioural economics at the moment. Much of this is a good thing: too much of the time, we've relied on dodgy assumptions about the human behaviour we seek to understand and/or shape.
The gap between our default assumptions about behaviour (eg. that people are calculating machines or that they see the world cleanly and uniformly) and what BE suggests is indeed real and represents a huge opportunity for marketers. But is BE the whole answer? No. Clearly not.
But why? Well, there are those who point to the fact that BE represents a rebadging of widely published work on perception and decision-making.
There's something missing from BE. There are, of course, examples of behaviour that are best understood at the level of the individual, but these cases are much rarer than most people think. Most of the time, most of us live in a world where the patterns reveal a fundamentally social world and our behaviour is best considered not in terms of the cognitive quirks or otherwise of individuals, but in terms of examples of networks and populations. Behaviour is not just an individual phenomenon That's where BE is largely missing the point, as far as I'm concerned.
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