Accounting for marketing deserves more consideration. Neither accountants nor marketers seem to give it much thought. That is a shame. It is a key area for understanding business. Yet, few are experts in it. Accounting For Marketing I think that there is a desperate need for marketers to understand accounting. Indeed, I think a lot…
Food Lessons From An Economist
Tyler Cowen’s “An Economist Gets Lunch” is pretty self-indulgent. In this book we get food lessons from an economist. Self-Indulgence Firstly, Cowen really loves his food and is happy to share his enthusiasm for high-quality meals. The second sense of self-indulgence is of an academic doing what he loves. I don’t mean to imply this negatively. When people do…
Improving Public Policy With Better Assumptions
Katie Chen (then at Western), Dilip Soman (of Rotman), and myself published a whitepaper. (I wrote this in 2017 and have edited since). This was through BEAR at the University of Toronto. We discussed moves towards improving public policy with better assumptions. Specifically the ideas about human behavior used in models. (More empiricially valid models in academic terms). By…
The Tyranny Of Random Facts
BCG have a new piece on measuring marketing results: Making Sense of the Marketing Measurement Mess. There is a lot to like in it. They discuss the tyranny of random facts. Questions To Ask About Marketing Metrics The authors describe a number of questions to ask about marketing metrics. “Do the metrics and tools capture…
Star Wars, The US Constitution, And The Dangers Of Not Rewriting When Necessary
Cass Sunstein’s book — The World According to Star Wars — is a must for Star Wars fans who are also interested in behavioral economics/law/public policy. This is probably a surprisingly big intersection. What do we find out about Star Wars and the US constitution? Star Wars: Why? I must confess to not seeing the appeal of…
Behavioural Insights, Policy Policy, and the OECD
The Organization for Economic Cooperation and Development (OECD) have a fascinating new initiative. (I wrote this in in 2017 and just edited since). “Behavioral Insights and Public Policy: Lessons from Round the World.” The book which accompanies the initiative has extensive case studies. The case studies outline how behavioral insights have been deployed. This has advanced…
Smoothing Data
Excel can be a very useful tool. Though it cannot easily do the most advanced statistical tasks. Excell can tackle most everyday business analytics. Today we see how a business advisor discusses a range of challenges including smoothing data. Balanced Scorecards Ron Person shows how to produce balanced scorecards in a book that is packed…
Field Guide to Lies
Daniel Levitin has an very enjoyable and informative popular science book in his Field Guide to Lies. He surveys how we know what we know, and how we communicate it to others. To be fair not all of it is about lies, for instance, he discusses how data is collected. A lot of the problems he…
Improving Public Policy Through Testing
David Halpern is an interesting character. Originally an advisor to Tony Blair’s Labour government he went on to establish the U.K.’s Behavioural Insights for David Cameron’s Conservative government. His CV makes sense to me given what he specializes in. His aim is to make government policy better. The politicians decide what should be done and Halpern tries to ensure it…
Conducting Business Tests
We should be conducting business tests to have more confidence we are doing the right thing. Small And Big Decisions In business decisions are often taken “without having any real evidence to back them up” (Davenport, 2009, page 69). This is a source of great frustration to me, (and many academics). To be fair sometimes there…
