Quirk's Media’s Post

"Unlocking the Power of the Endowment Effect: 🧠💼 In this captivating video, I delve deep into the fascinating realm of behavioral economics. Join me on a journey to understand why we attach extra value to things simply because we own them. We'll explore the cognitive biases that underpin the Endowment Effect, shaping our perceptions and influencing choices in surprising ways. Gain insights into the intricate interplay of psychology and ownership, and discover how this phenomenon impacts decision-making. Don't miss this thought-provoking exploration! #EndowmentEffect #BehavioralEconomics #PsychologyOfOwnership #DecisionMakingInsights" Dr. Parameswaran Subramanian SHUBHASHREE ACHARYA AASHIEK CHERIYAN

The Psychology of Pricing explores how pricing strategies impact consumer perception. By delving into behavioral economics, cognitive psychology, and real-world case studies, businesses can optimize their pricing strategies. Key tactics include charm pricing , prestige pricing, and bundle pricing. These strategies influence perceived value, quality, and desirability, shaping consumer decision-making. Remember to balance these tactics with transparency and value delivery to customers. 🛒💰 #PricingStrategies #ConsumerBehavior #BehavioralEconomics #PricingPsychology #ValuePerception #SmallBusinessTips #BusinessStrategy

Our latest Decoding Human Behavior Book Club session delved deep into the fascinating world of behavioral economics with "Predictably Irrational" by Dan Ariely. From understanding the quirks of decision-making to unraveling the mysteries of human behavior, we explored eye-opening insights that challenge our perceptions of rationality. Couldn't make it to the session? Don't worry - we've got you covered! Dive into the captivating slide deck from our discussion and uncover the secrets of irrationality. Let's continue decoding human behavior together! #DecodingHumanBehavior #BookClub #PredictablyIrrational #BehavioralEconomics #DanAriely

What's the best message Google Scholar's landing page has shown me? "Your paper got it's 100th citation"! Happy round number citation milestone to this Nature Portfolio paper introducing megastudies to the world! Read it here: https://lnkd.in/e5yxpbZ3 #TeamworkMakesTheDreamWork | The Wharton School | Behavior Change for Good Initiative | Center for Health Incentives and Behavioral Economics | #BehavioralScience

A Tribute to a Pioneer in Behavioural Economics Daniel Kahneman, a Nobel laureate in Economic Sciences, revolutionized our understanding of decision-making through his work in behavioural economics and cognitive psychology. His research, notably prospect theory, revealed the role of biases and heuristics in human choices, reshaping fields from finance to public policy. His book "Thinking, Fast and Slow" remains a seminal work in psychology, leaving an enduring impact on innovation worldwide. We will miss you! #danielkahneman #RememberingKahneman #LegacyOfThought #InMemoryOfDanielKahneman

In the memory of Daniel Kahneman 🕊 Today, we bid farewell to arguably the most notable figure in behavioral economics. Thinking, Fast and Slow was my introduction to behavioral economics, and it truly makes you think about why we do what we do! The book discusses the dual systems that drive our thinking: the intuitive, fast-paced "System 1" and the deliberate, analytical "System 2." System 1 works automatically, guiding our quick decisions based on instinct and emotion. It's our go-to for quick judgments and reactions, but it's prone to biases and errors. It's like when you automatically catch a ball thrown at you without thinking about the physics behind it. Meanwhile, System 2 is our conscious, rational mode of thinking. It kicks in when we try to solve complex problems or make deliberate choices. However, it's slow and lazy, often opting to defer to System 1's shortcuts. It's like when you solve a tricky math problem step by step, carefully considering each calculation. The book explores the quirks of human cognition, from the impact of framing and priming on decision-making to the illusion of certainty and the pitfalls of overconfidence. Understanding these cognitive quirks helps us make wiser choices in all aspects of life. RIP Sir 🙏 Here's a short video on the same topic. A must watch - https://lnkd.in/gvfRkZWg #danielkahneman #economics #behavioraleconomics #psychology #cognitivebias

🚀 Exploring Behavioral Economics: Loss Aversion Theory 🧠 Did you know that humans are wired to feel the pain of loss more intensely than the pleasure of gain? 📉📈 That's the essence of Loss Aversion Theory, a fascinating concept in behavioral economics. 🔍 Loss Aversion Theory suggests that people tend to prefer avoiding losses rather than acquiring equivalent gains. This psychological phenomenon influences decision-making across various aspects of our lives, from investments to daily choices. 🔑 Understanding Loss Aversion can have a profound impact on how we approach risk, make financial decisions, and even design user experiences. By recognizing this innate human bias, we can better navigate challenges and leverage opportunities. 💡 How has Loss Aversion influenced your decision-making? Share your thoughts and experiences below! Let's dive into the world of behavioral economics together. 🌐 #BehavioralEconomics #DecisionMaking #LossAversion #PsychologyOfChoice #LearningTogether #selfdevelopment #selfdiscipline

What prompts people to behave the way they do? What motivates customer needs? Thoroughly enjoyed completing this short course on Behavioral Economics with Rory Sutherland. Exploring new concepts and delving into numerous case studies and examples proved to be truly fascinating. Also, Thanks to Kriti for her consistent posts on behavioural economics, which significantly sparked my interest in this domain. #behaviouraleconomics #behaviouralscience

Deeply Saddened by the Loss of Daniel Kahneman Today, the economics and behavioral science communities have lost a giant. Daniel Kahneman's pioneering work on prospect theory and the study of human decision-making under uncertainty reshaped our understanding of economic behavior. As an MS student in Applied Economics and Management, Kahneman's work has been instrumental in my thesis research on assessing the impact of Universal Basic Income through a behavioral economics lens. His insights into framing, loss aversion, and cognitive biases are critical for evaluating the potential effects of such policies. Kahneman's famous quote, "We can be blind to the obvious, and we are also blind to our blindness," perfectly captures the essence of his work. His legacy will continue to inspire generations of economists and social scientists. #DanielKahneman #BehavioralEconomist #NobelPrize #BigLoss