Behavioural Economics
7.2K views | +0 today
Follow
Behavioural Economics
Frequently curated material for students and teachers relevant to A Level and Pre U Economics
Curated by Geoff Riley
Your new post is loading...
Your new post is loading...
Scooped by Geoff Riley
Scoop.it!

Economic Ideas You Should Forget: The Axioms of Revealed Preference - John Kay

Economic Ideas You Should Forget: The Axioms of Revealed Preference - John Kay | Behavioural Economics | Scoop.it
John's contribution to this book, published by Springer in March 2017.
Geoff Riley's insight:
Enrichment reading: "Much of what is described as ‘irrationality’ is simply a manifestation of the coping strategies humans have developed over millennia to deal with complex situations of which they can have only limited understanding or knowledge." 
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Mainstreaming behavioural economics 

At the turn of the century, behavioural economics was a hot topic. It identified phenomena that standard models could not explain.For example, the bursting of the dot-com bubble in 2000 came at the end of a period in which standard indicators, such as price-earnings ratios, were completely out of line with the predictions of efficient markets as depicted by what we will refer to as conventional economics.
Geoff Riley's insight:
Really important article on the future of behavioural economics
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

How Behavioral Economics Can Produce Better Health Care

How Behavioral Economics Can Produce Better Health Care | Behavioural Economics | Scoop.it
People don’t always act “rationally.” Nudges might be able to lead to better doctors and healthier patients.
Geoff Riley's insight:
Some useful contextual examples here
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Pret a Manger to give discounts to anyone bringing their own coffee cups

Pret a Manger to give discounts to anyone bringing their own coffee cups | Behavioural Economics | Scoop.it
French bakery group Paul and sandwich chain Pret a Manger will  begin offering discounts to customers bringing in their own reusable cups, yielding to pressure from environmental groups concerned about the mountains of cardboard waste generated in the UK each year.  
Geoff Riley's insight:
How best can we lower the vast consumption of disposable but non-recyclable coffee cups? I suspect more businesses will start to offer a price discount for customers who bring in their own reusable cup (and up-sell by manufacturing their own range, framed at a price of £2-£4).  I am old enough to remember the days of taking back glass bottles to shops to earn a tidy rebate. 
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

How the World Bank is 'nudging' attitudes to health and hygiene

How the World Bank is 'nudging' attitudes to health and hygiene | Behavioural Economics | Scoop.it
Nudge theory has been used to identify why people smoke or fail to pay taxes on time, can it now be used to fight malnutrition and open defecation?
Geoff Riley's insight:
Examples of behavioural nudges in a development context.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

All change in the aisles to entice us to eat more veg

All change in the aisles to entice us to eat more veg | Behavioural Economics | Scoop.it
Scientists to give supermarkets a makeover to cut meat consumption
Geoff Riley's insight:
Sainsburys and a team of academics from Oxford University are teaming up to launch a range of initiatives to get people to make healthier food choices. Lots of behavioural nudges in action here including normalising the placing of vegetarian options and making changes to the choice architecture of store layouts.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Behavioural Economics: How a flamingo taught me about priming

Behavioural Economics: How a flamingo taught me about priming | Behavioural Economics | Scoop.it
Empty description
Geoff Riley's insight:
Charlie Lewis, Digital Strategist at Winston-Wolf writes here about how an encounter with Pablo the dancing flamingo taught him all he needs to know about behavioural priming!
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Behavioural Economics - A Quick Primer

Behavioural Economics - A Quick Primer | Behavioural Economics | Scoop.it
This is a quick primer on the ways in which behavioural economics challenges the assumptions the null model of agent behaviour that dominated conventional…
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

The Friendship That Created Behavioral Economics

The Friendship That Created Behavioral Economics | Behavioural Economics | Scoop.it
A conversation with Michael Lewis about his new book on the research of Daniel Kahneman and Amos Tversky
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Can an app change human behavior? This behavioral economics professor is banking on it

Can an app change human behavior? This behavioral economics professor is banking on it | Behavioural Economics | Scoop.it
It ain't easy getting people to save money
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Nudging the pub: a change in choice architecture can help pub-goers drink less

Nudging the pub: a change in choice architecture can help pub-goers drink less | Behavioural Economics | Scoop.it
A proposal to help British breweries and pubs promote responsible drinking, by Luc Bovens. The Government uses various policy tools to reduce alcohol
Geoff Riley's insight:
Interesting article on social norms in the pub contrasted to restaurants. Norms of reciprocity such as buying a round are powerful forces when lining up at the bar, not so when seated at the dinner or lunch table. The article argues for serving higher-strength beers in smaller glasses to change the choice architecture - although holding a half glass still invites ridicule!
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

What You Need to Know if you are Teaching Behavioural Economics for the First Time | Economics | tutor2u

Here are the resources from the CPD webinar entitled: What you Need to Know if you are Teaching Behavioural Economics for the First Time
Geoff Riley's insight:
Some great revision / teaching resources here
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Behavioural Economics of Plastic Bag Tax.

Joe Gladstone, Assistant Professor at University College London, discusses the plastic bag tax and why this has been so effective in just a short time. Can the nudge be applied elsewhere?

Geoff Riley's insight:
​Which works best, the carrot or the stick? In this short interview one of our favourite behavioural economists Joe Gladstone, Assistant Professor at University College London, discusses the plastic bag tax and why this has been so effective not least because of the importance of loss aversion. 

The pain of paying for something is more acute at certain trigger points - for example at the check out!
more...
Matt Smith's curator insight, December 1, 2016 7:15 PM
​Which works best, the carrot or the stick? In this short interview one of our favourite behavioural economists Joe Gladstone, Assistant Professor at University College London, discusses the plastic bag tax and why this has been so effective not least because of the importance of loss aversion. 

The pain of paying for something is more acute at certain trigger points - for example at the check out!
Scooped by Geoff Riley
Scoop.it!

Surge pricing comes to the supermarket

Surge pricing comes to the supermarket | Behavioural Economics | Scoop.it
Online retailers are increasingly using your personal data profile to decide how much to charge you for purchases. And high-street shops are about to get in on the act
Geoff Riley's insight:
This is a really interesting article from the Guardian about the rise of dynamic pricing by supermarkets - drawing on the power of big data and ubiquitous mobile technology to personalise prices offered to consumers and move businesses closer to perfect price discrimination.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Public Policy Issues and Behavioural Concepts

Public Policy Issues and Behavioural Concepts | Behavioural Economics | Scoop.it
Here is a downloadable document on three public policy issues (low savings, obesity and gambling addiction) and relationships with behavioural economics. 
Geoff Riley's insight:
Here is a downloadable document on three public policy issues (low savings, obesity and gambling addiction) and relationships with behavioural economics. We focus on some of the behavioural biases relevant to each issues, flag up ways in which businesses use behavioural concepts for their own commercial gain. And we then identify some behavioural nudges and conventional policy interventions.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Can loss aversion improve exam results? | tutor2u Economics

Can loss aversion improve exam results? | tutor2u Economics | Behavioural Economics | Scoop.it
German school children do better in the same test when their marks don't start at zero. Can invoking the behavioural bias of loss aversion improve student…
Geoff Riley's insight:
A really interesting application of loss aversion here drawing on research from tests taken by German students. 
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Behavioural Economics Presentation 

Behavioural Economics Presentation  | Behavioural Economics | Scoop.it
Below is a pdf download of a presentation on consumer behaviour that I did for our Yr12 and Yr 13 students last week. It focuses on the following: Hedonic Treadmil - Paradox of Choice - Algorithms and Choice - Happy Money - Well-being around the world. Click here to download. I particularly like these images.
Geoff Riley's insight:
Highly recommended resource from Mark Johnston for teachers and students revising behavioural economics as part of their A levels. 
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Behavioural Economics | tutor2u Economics

Behavioural Economics | tutor2u Economics | Behavioural Economics | Scoop.it
This series of 10-question MCQ quizzes are for A Level Economics students to test their knowledge and understanding of Behavioural Economics.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Want to Get Rid of Obamacare? Be Careful What You Wish For

Want to Get Rid of Obamacare? Be Careful What You Wish For | Behavioural Economics | Scoop.it
Donald Trump may actually have the political power to enact the single-payer approach, but Republicans are extremely unlikely to embrace it.
Geoff Riley's insight:
The Economic Naturalist, Robert Frank discusses the latent power of loss aversion as the imminent repeal of the Affordable Care Act arrives.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Are there alternatives to charging 5p for reducing plastic bag use?

Are there alternatives to charging 5p for reducing plastic bag use? | Behavioural Economics | Scoop.it
Gauri Chandra discusses the behavioural alternatives to reducing plastic bags use without charging 5p for purchasing a bag.
Geoff Riley's insight:
Can money crowd out guilt? This blog from an LSE student engaging in research for a dissertation claims that the long term impact of the 5 pence plastic bag charge is likely to dissipate and that non-monetary nudges might be just as effective in changing behaviour. One has to be cautious about making judgements when the sample size is so small.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

How behavioral economics explains everyday life

How behavioral economics explains everyday life | Behavioural Economics | Scoop.it
The integration of neuroscience, psychology, microeconomic theory, and social intelligence has bred a field that provides insights and underlying assumptions to our normal interactions.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Howard Schultz Steps Down as CEO of Starbucks

Howard Schultz Steps Down as CEO of Starbucks | Behavioural Economics | Scoop.it
Farewell to one of our favourite CEOs - Howard Schultz - who is stepping down as CEO of Starbucks from April 2017.
Geoff Riley's insight:
Price anchoring at work here - "Starbucks is developing a new premium chain of coffee shops - The Roastery - where prices may be around 3-4x those in the typical Starbucks store." Setting a high anchor price sets expectations that this is a different product from wandering into a typical Starbucks store.
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

The Best Films of 2016 (for Behavioral Economists)

The Best Films of 2016 (for Behavioral Economists) | Behavioural Economics | Scoop.it
Unrealistically optimistic star warriors. Fairness-valuing jungle creatures. Lovebirds thinking counterfactually.
Geoff Riley's insight:
Behavioural Economics meets Hollywood - a great post from Cass Sunstein (co-author of Nudge) on the behavioural economics embedded into some of the year's top films. Some interesting behavioural biases are identified along the way!
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Why is it so hard to overcome bias in decision-making? Becasue you're human

Why is it so hard to overcome bias in decision-making? Becasue you're human | Behavioural Economics | Scoop.it
A Princeton psychology professor explains our inability to overcome bias.
Geoff Riley's insight:
Neat short article on a cluster of cognitive biases
more...
No comment yet.
Scooped by Geoff Riley
Scoop.it!

Police body cameras 'cut complaints against officers'

Police body cameras 'cut complaints against officers' | Behavioural Economics | Scoop.it
Police body cameras can dramatically reduce the number of complaints against officers, a major research project suggests.
Geoff Riley's insight:
A nudge that appears to influence the behaviour of the police and those that come into contact with the police? A Cambridge University study found complaints against police in the U.K. and the U.S. fell 93 percent after departments installed body cameras
more...
No comment yet.