Category: Decision Making
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Kahneman’s Gripe
Marketing draws heavily on psychology and economics. I feel that both disciplines have much to offer (as well as weaknesses). So it is without any specific agenda that I agree with Daniel Kahneman’s “gripe”. Kahneman’s Gripe Agreeing with Kahnema might not seem brave. Kahneman is a Nobel prize winner. I’d say a good rule of thumb…
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Surviving Paranoia
I don’t like Paranoia. Excessive fear of other people is a major social problem and encouraging it is just plain wrong. We need to concentrate on getting past it, surviving paranoia. Do Only The Paranoid Survive? Thus I’m not a fan of Andy Grove’s “Only the Paranoid Survive” (Grove 1996). It is not that there…
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Are We Good Decision Makers?
An interesting debate in the decision-making field is: Are we good decision-makers? The Debate: Are We Good Decision Makers? This debate occurs most contentiously between supporters of Amos Tversky & Daniel Kahneman and those in Gerd Gigerenzer’s camp. Supporters of Tversky and Kahneman argue that in the 1970’s the core assumption in social science was…
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A Taxonomy Of Nudging
One of the most popular ideas in the behavioural sciences at the moment is “nudging”. This is applying a light touch to encourage people towards certain actions. People often are a little unclear on what a nudge is. As such it is helpful to have a taxonomy of nudging. What Is A Nudge? What Then…
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Marketing And The Republican Autopsy
The Republican’s recently issued an interesting competitive analysis of how the party’s marketing operations stack up. [Published in 2013]. The Growth and Opportunity Project has been dubbed the “Republican Autopsy”. This basically accepted that the 2012 national elections were a disaster for the party. So what can we learn from marketing and the Republican autopsy? Criticism…
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Defaults Matter
There is a wonderful 2003 Science article about how people react to default choices. The conclusion? Defaults matter. Why Does This Matter? The article impresses for a number of reasons including: In Organ Donations Defaults Matter So what does the article say? In organ donations the default option matters. When people must opt-in (explicitly consent)…
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The Politician’s Fallacy
Yes Minister, a British TV show, explained a logical mistake called The Politician’s Fallacy. The politician sees a problem and feels that “Something must be done”, They find an approach and say “This is something”, Then they make a logical leap, “this must be done”. Measuring National Culture Numerical analysis of culture in business reminds…
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Ron Paul’s Marketing Lesson
Politics can teach us a lot about marketing. Ron Paul’s story teaches us more than most. I’m not a Ron Paul follower but that doesn’t mean we can’t learn from what he has done well and his problems. What is Ron Paul’s marketing lesson? The Marketing Concept When we teach marketing we suggest trying to…
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Laziness Is A Sustainable Resource
People can be lazy. We often don’t find out all information relevant to the decision we are making. It is hard work to find information. Our decisions based upon limited information can lead to personally or environmentally destructive outcomes. People wouldn’t make these decisions if they thought a little harder. This is a problem. What…
