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Scoop.it!
Richard Thaler’s 2017 Nobel Memorial Prize in Economic Sciences is a nudge for marketers to learn about behavioral economics. How can marketers nudge quick-thinking, short-attention consumers? 
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Behavioral economics could improve the world, but only if nudges are used properly.
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Results showed a 6% increase over clinics that did not use the alert system, representing a 37% relative increase in vaccinations from the prior year.
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There’s a challenge to economic theories where people base choices on unbiased beliefs. That’s why governments are creating behavioural economics units that 'nudge' towards certain choices. These units are coming to the Middle East.
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Nudge Theory draws on human behaviour to create subtle policy 'nudges' that encourage people to make good or healthier choices. The Policy Shop investigates.
Kasia Hein-Peters's insight:
Nudging as important tool for public health policy
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From
hbr
New research on default settings.
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Years ago, Robert Fritz came up with the simple idea of the "path of least resistance." The idea is simple, yet profound: If you want people to change, make the change easier to do than not making the change. Right now, people mostly have to choose to do good, but the game changes when both the path of least resistance is the right thing and I have to make a conscious choice to do something I know is unsustainable. The list of ways companies could make "good" the default is endless.
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FOR patients dealing with the daily demands on their health caused by conditions such as diabetes and obesity - and the medical experts involved…
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Nudges that benefit companies and not consumers are a misguided use of a principle of behavioral economics.
Kasia Hein-Peters's insight:
Good nudging and bad nudging in business
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People don’t always act “rationally.” Nudges might be able to lead to better doctors and healthier patients.
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People don’t always act “rationally.” Nudges might be able to lead to better doctors and healthier patients.
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Motivated to improve its fuel and carbon efficiency, as well as reduce operational costs, Virgin Atlantic experimented with a novel approach few, if any, in its industry have tried to date — combining behavioral science and smart data communication in order to change pilots’ behaviors around fuel consumption.
Kasia Hein-Peters's insight:
Interesting how Virgin used nudges to achieve better fuel economy and save monies in the process
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Choice Architecture is the phrase behavioral economists use to explain that the way choices are presented can influence the decisions people make about them.
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Nudges that benefit companies and not consumers are a misguided use of a principle of behavioral economics.
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Highmark is taking a humorous approach to raising awareness about cancer screenings in the launch of its nudge campaign.
Kasia Hein-Peters's insight:
Nudge your loved once to get screened for cancer :-)
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The government has put a lot of thought into organ donor advertisements
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The past five years has seen the British government turn to the power of the "nudge" to encourage us to do what they want.
Kasia Hein-Peters's insight:
Behavioral science helps to influence positive behaviors. Some of these findings can improve marketing communication too.
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