The Rise of Behavioural Economics and Its Influence on Organisations
Behavioural economics is a relatively new field that combines insights from psychology, judgment, and decision making, and economics to generate a more accurate understanding of human behaviour. Richard Thaler, the ‘father’ of this discipline suggests that there are many opportunities to “nudge” people’s behaviour by making subtle changes to the context in which they make decisions.
This article shares some of the field experiments which show this in action. For example, when and where you ask certain questions, how you design your processes or adding in small incentives can all lead to long lasting behavioural change.
I strongly believe that such ‘nudges’ can be applied to mitigate the impact of stress in the work environment – small adjustments can make a big difference.
The Rise of Behavioural Economics and Its Influence on Organisations by Francesca Gino
Published in Harvard Business Review, October 2017
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