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Prospect Theory on Human Decision-Making

Making decisions is something that people do every day, knowingly or unknowingly. It is not surprising, that the topic of Decision-Making is shared by many disciplines, from Mathematics, Economics and Political Science, to Sociology and Psychology.

Analyses of Decision-Making usually …

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4 Digital Marketing Techniques Based on Nudging

digital marketing

The theory and practice of Nudge Marketing and Behavioral Economics may not be as widespread as thought, but it is used by many successful companies in the field of Marketing and especially in Digital Marketing. Rand Fishkin from SEOMoz¬†spoke … Read more...

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3 Applications of Behavioral Economics in the Real World

It is a fact that the most upcoming economists and psychologists, nowadays, with a vast theoretical background, thirst for knowledge, and impatience to make an impact on the world, search for an interesting field to specialize in.

Behavioral Economics is …

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Behavioral Economics as an Alternative Approach in Decision-Making

Recently, the inability of economic theory to come up against the current financial crisis gave the chance to a fresh, alternative approach of economics come to the fore: Behavioral Economics.

The science of Behavioral Economics rejects the assumption that … Read more...

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The Difference between Nudging and Advertising

In such a competitive context, advertising is one of the crucial priorities of every business. Nudge can be a fresh way of advertising.

Stigler (1987) mentioned that advertisements inform the audience about the availability and the quality of a product/service, … Read more...