Bring Insights to the Table and Keep Them There with Behavioral Economics by Stephen Paton, AGL (Australia) #CRC2014 #MRX
Live blogging from the Corporate Researchers Conference in Chicago. Any errors or bad jokes are my own.
Bring Insights to the Table and Keep Them There with Behavioral Economics
Stephen Paton, AGL (Australia)
- We bring understanding, we show how to influence situations, we help predict the unknown
- While everyone else is walking along the beach, we’re stuck looking at one single rock
- Try to do at least one new methodology every year. They just tried using apps for the first time
- we need good presentation skills so we can share our results
- we need better, faster, cheaper – we have indeed done this with going online, better technology, no more paper, online communities, crowd sourcing
- Is this a race to the bottom?
- We’ve gotten so much better at what we do but salaries don’t show it
- Research used to have mystique and mystery – how do you collect data? what sample sizes got used?
- Context is important to decision making and outcomes
- “We are to thinking as cats are to swimming – we can do it if we have to” ~Daniel Kahneman
- Dan Ariely – books are easy to read “Predictably Irrational”, register for his course
- We take a lot of shortcuts, we have biases, we deal with social norms, omission bias, restraint bias, attention bias, ambiguity effect, validity illusion, – we aren’t logical
- book “Psychology of Price”
- Use traditional insights AND behavioural paths as well