Within our team @boardofinno, we give short presentations to each other, to learn more, to get inspired, to be amazed,…
The following deck was used by @tjalve in our internal #teachme session.
It covers 15 lessons from Behavioural Economics you can apply to your ongoing projects.
The concepts covered are:
1. The Endowment Effect
2. Hyperbolic Discounting
3. The IKEA effect
4. Anchoring Bias
5. The Von Restorff Effect
6. Loss Aversion
7. Hedonic Adaption
8. The Bandwagon Effect
9. The Inaction inertia effect
10. The Zeigarnik Effect
11. The Framing Effect
12. The Goal Gradient Effect
13. The Choice Paradox
14. Round Pricing Preference
15. Reciprocity
Behavioural Economics content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Alternative Views of Consumer Behaviour
Behavioural Biases
Nudges
Webinar: Using Behavioral Economics to Identify What Motivates Shopper BehaviorRevTrax
Behavioral economics, the intersection of psychology and economics, is broadly gaining ground in the business world. Shoppers often make irrational decisions based on messaging brands can control.
Neil Gandhi, VP of Data Science at RevTrax, and Jura Liaukonyte, SM.A., Ph.D, Professor at Cornell University, recently discussed proven behavioral economic methodologies and how they can be applied to digital tests to uncover the most effective shopper motivators. These learnings can be tied to specific audience segments and applied at scale to increase shopper engagement online and in-store, making national, shopper and trade promotions more impactful and cost-effective.
The webinar is included as the last slide in this presentation (also at https://youtu.be/35CbJRUz1Cs ). Watch the webinar and reference the slides to learn how marketers can leverage behavioral economics to identify triggers that drive shopper behavior along the path to purchase. You will:
- Learn what behavioral economics is and why it is important.
- Understand how behavioral economics is used in the business world.
- Walk through an actual case study on how brands can use behavioral economics to influence a shopper's path to purchase across audiences and channels.
Visit http://revtrax.com/insights to learn how RevTrax can help you combine customer-level data and behavioral economics methodology to test, optimize, and measure your digital promotions and marketing investments.
Updated revision presentation on aspects of behavioural economics and topical issues where behavioural nudges are being used to change the choices of consumers and businesses.
15 Behavioural Economics Principles to increase ConversionsSiteVisibility
This presentation demonstrates the value of understanding and using a variety of behavioural economics principles to achieve results in your digital marketing campaign.
Aspiration, confidence, fear of failure and trust play a role in the B2B buying mindset. It sounds obvious, but avoidance of risk is a key component of business continuity and it’s easy to forget that B2B buyers are human beings, rather than rational decision-making robots. Brands need to invest time in understanding how their audience makes decisions if they are to influence them
Behavioural Economics content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Alternative Views of Consumer Behaviour
Behavioural Biases
Nudges
Webinar: Using Behavioral Economics to Identify What Motivates Shopper BehaviorRevTrax
Behavioral economics, the intersection of psychology and economics, is broadly gaining ground in the business world. Shoppers often make irrational decisions based on messaging brands can control.
Neil Gandhi, VP of Data Science at RevTrax, and Jura Liaukonyte, SM.A., Ph.D, Professor at Cornell University, recently discussed proven behavioral economic methodologies and how they can be applied to digital tests to uncover the most effective shopper motivators. These learnings can be tied to specific audience segments and applied at scale to increase shopper engagement online and in-store, making national, shopper and trade promotions more impactful and cost-effective.
The webinar is included as the last slide in this presentation (also at https://youtu.be/35CbJRUz1Cs ). Watch the webinar and reference the slides to learn how marketers can leverage behavioral economics to identify triggers that drive shopper behavior along the path to purchase. You will:
- Learn what behavioral economics is and why it is important.
- Understand how behavioral economics is used in the business world.
- Walk through an actual case study on how brands can use behavioral economics to influence a shopper's path to purchase across audiences and channels.
Visit http://revtrax.com/insights to learn how RevTrax can help you combine customer-level data and behavioral economics methodology to test, optimize, and measure your digital promotions and marketing investments.
Updated revision presentation on aspects of behavioural economics and topical issues where behavioural nudges are being used to change the choices of consumers and businesses.
15 Behavioural Economics Principles to increase ConversionsSiteVisibility
This presentation demonstrates the value of understanding and using a variety of behavioural economics principles to achieve results in your digital marketing campaign.
Aspiration, confidence, fear of failure and trust play a role in the B2B buying mindset. It sounds obvious, but avoidance of risk is a key component of business continuity and it’s easy to forget that B2B buyers are human beings, rather than rational decision-making robots. Brands need to invest time in understanding how their audience makes decisions if they are to influence them
Slides Jeff Otto recently used in his discussion w/ mentees of The Product Mentor.
The Product Mentor is a program designed to pair Product Mentors and Mentees from around the World, across all industries, from start-up to enterprise, guided by the fundamental goals…Better Decisions. Better Products. Better Product People.
Throughout the program, each mentor leads a conversation in an area of their expertise that is live streamed and available to both mentee and the broader product community.
http://TheProductMentor.com
Why behavioural economics in b2b marketing will change what you do and how you do it. Insight into how the use of buyer psychology is changing how businesses can influence buyers and prospects throughout the buyer journey. For more information or to talk Behavioural Economics in business-to-business marketing email info@earnest-agency.com
Slides Jeff Otto recently used in his discussion w/ mentees of The Product Mentor.
The Product Mentor is a program designed to pair Product Mentors and Mentees from around the World, across all industries, from start-up to enterprise, guided by the fundamental goals…Better Decisions. Better Products. Better Product People.
Throughout the program, each mentor leads a conversation in an area of their expertise that is live streamed and available to both mentee and the broader product community.
http://TheProductMentor.com
Why behavioural economics in b2b marketing will change what you do and how you do it. Insight into how the use of buyer psychology is changing how businesses can influence buyers and prospects throughout the buyer journey. For more information or to talk Behavioural Economics in business-to-business marketing email info@earnest-agency.com
This presentation introduces viewers to concepts in behavioral economics as they relate to healthcare services and decision-making. I discuss a number of heuristics and biases that impact decisions and perceptions, using specific examples from healthcare literature.
Advances in the behavioral sciences can better enable the human-centric design of programs, technologies, and organizations. Explore six lessons from behavioral economics that you can apply to your workplace. To learn more, view our special section on behavioral economics and management from Deloitte Review, Issue 18: http://deloi.tt/1TrSA6y
Post-Conference presentation at the Predictive Modeling Summit held in Washington DC.
This talk focuses on applying behavioral economic principles to devise behavioral interventions and simulating such behavioral interventions using predictive modeling and agent-based simulation tools to provide managed care professionals and healthcare policy makers with a unique set of tools and techniques to address some of the critical issues of user adoption and controlling healthcare costs. In this talk, I examine the basic principles of behavioral economics, how it can be applied to devise behavioral interventions in the managed care area, and how to develop simulation models to understand the implications before testing and rolling out these interventions.
http://www.myassignmenthelp.net/economics-assignment-help.php
University economics deals with subjects like economic theory, microeconomics, demand-supply gap, macroeconomics. These subjects are part of various evaluations like economics thesis, economics dissertation and economics essay. MyAssignmentHelp.net provides all such economics help and economics assignment help
Thinking:People are doing it wrong! Digital Elite Camp presentation. How cognitive biases and mental heuristics help to sell more. https://www.dreamgrow.com/thinking-cognitive-biases-in-sales-and-marketing/
Persuasion architectures: Nudging People to do the Right ThingUser Vision
Review of some of the most popular commercial and public sector persuasion methodologies. Plus some reasons why they may not work and some criticisms, and a comparison of how supermarkets persuade us, offline.
Are you a business owner? Then here’s a financial planning boot camp that just might be fun. We’ll cover the six main items you need to understand and review key questions to help you figure out the finances of your business. Topics include investment strategies, how much insurance you need, setting up financial filing systems and who to turn to for help. Come with questions and leave with a plan and checklist to get you on track.
Speaker: Dave Caruso, Founding Chair & Managing Director, Coast Capital Group
Twitter: @CoastalWealth
LinkedIn: linkedin.com/in/davecarusoccg
Blog: coastalcapitalwealth.com/news/
Facebook: facebook.com/CoastalCapitalGroup
his presentation was given to business owners and other leaders in Massachusetts’ North Shore April 2014.
Venue: Enterprise Center, (Hawthorne Hotel), Salem, MA
Speaker: Dave Caruso CFP® | Founding Chairman / Managing at Coastal Capital Group | WBZ1030 Boston Financial Editor
Topic: ‘Getting Your Financial Act Together’ (View the presentation slides below.)
Coastal Capital’s major themes of focus in educating you as to how to ‘Connect Your Money With Your Life’ are: Mindset & Psychology; Lifestyle; Investment Services; Financial Plans and Health.
Its not only about getting a solid financial plan in place to handle your investments, its also about helping with the other important parts of your life so that there is balance. One should understand what your mindset is in the psychology of the markets and behavioral science as well as understanding investments and putting a plan together
Copywriting: An Underestimated Conversion InfluencerVWO
There are tons of internet resources for what to test on your eCommerce website. Most focus on distinct elements like:
Changing buttons colors
Making search bar sticky
Showing or removing images
Hide or reveal other website elements
One reason is that it’s easy to track users’ interaction with these elements. Hence, by default, they become the primary targets of the optimization program.
But the power of copy is often overlooked.
There is a misconception that people don’t read product details and the associated description. This is wrong.
So, what is a marketer to do? Write copy that maintains attention and influences the subconscious.
Rishi Rawat, Founder of Frictionless Commerce, has been helping companies for the past 11+ years in finding conversion opportunities via copywriting. In this lecture, Rishi will reveal 12 copywriting proven strategies that will radically improve your A/B testing outcomes.
Similar to 15 Lessons from Behavioural Economics - by @tjalve @boardofinno - Board of Innovation (20)
📌 Go to http://bit.ly/build-business-ideas to read the full article! 👇🏻
10-steps guide for corporate innovators to:
------------------------------------------------------
- Validate business ideas with proved methodologies
- Communicate these ideas more effectively with a structured format
10 Questions to prove that you can run a Design Sprint todayBoard of Innovation
More info on Design Sprints: https://www.boardofinnovation.com/design-sprint/
Board of Innovation makes corporates innovate like startups, mixing proven methods from Design Thinking and Lean Startup. www.boardonnovation.com
9 Indicators That Prove That Your Innovation Programme Will FailBoard of Innovation
On the basis of our experience with corporate clients, we collected 9 indicators that signal that something is going wrong + 13 clear actions to take!
https://www.boardofinnovation.com/blog/2017/05/29/9-indicators-that-prove-your-innovation-program-is-failing/
33 Tips to Level Up your Presentation Skills ➔ Have a look at these main takeaways to perform the perfect (innovation) pitch!
Prepare for a presentation upfront by looking into these key tips and level up your skills for a successful pitch.
Don't forget that these skills are just as important as the content you are presenting. Whether or not you'll achieve the desired outcome, can be affected by the way the handle the presentation.
We'll go three different topics to pitch like a king:
✔︎Storytelling & Framing
✔︎Body language & Attitude
✔︎Slides & practical tips.
We use these elements in our own innovation accelerator program: https://www.boardofinnovation.com/corporate-innovation-accelerator/
Full Program & Tools to Accelerate an Internal Innovation Project - by Board ...Board of Innovation
By Board of Innovation (www.boardofinnovation.com) -
Full program & tools available. A step by step approach to accelerate an internal innovation project in your company.
29 Revenue Model Options for Industrial enterprises (curated by @arnevbalen -...Board of Innovation
How to find new ways to make money as an industrial company? Explore 29 trigger cards with different business model options and pricing tactics (Industrial enterprise version). - by Board of Innovation
How to re-frame business problems to customer-centric opportunity spaces that drive value. Design thinking is your shortcut to customer empathy. A good understanding on how this method could help you identify real customer problems and unmet needs is essential. Moreover we will share techniques and tools that you can implement directly after this crash course. Start inventing the future.
By Board of Innovation (www.boardofinnovation.com)
Full program & tools available. A step by step approach to create an innovation platform in your company.
27 Revenue Model Options B2B (curated by @arnevbalen - Board of Innovation)Board of Innovation
How to find new ways to make money in a B2B context? Explore 27 trigger cards with different business model options and pricing tactics (B2B version). (By Board of Innovation)
Experiments to create your own Innovation War Room - created by @boardofinno ...Board of Innovation
Based on our experience, we've created a list of things that might inspire your innovation room. Some of these items are already in our office, others will follow soon. Make sure to let us know if you have other great suggestions.
27 Revenue Model Options B2C (curated by @arnevbalen - Board of Innovation)Board of Innovation
How to find new ways to make money in B2C? Explore 27 trigger cards with different business model options and pricing tactics. (by Board of Innovation)
How startups create a frictionless experience. +30 cases by @boardofinnoBoard of Innovation
+30 cases How new business models create an Unbeatable customer experience. Focused on on-demand services, next-gen technologies & frictionless services. (Board of Innovation)
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
2. Within our team @boardofinno,
we give short presentations to each other,
to learn more, to get inspired, to be amazed,…
The following deck was used by @tjalve in our
internal #teachme session.
3. The basicsA
In this deck:
15 lessonsB
of behavioural
economics
to use in your
next project!
4. Avoid your Kodak or Nokia moment…
hire our team
info@boardofinnovation.com
6. Behavioral economics attempts to
address irrational human behavior
in light of limited cognitive capacity
and inherent cognitive failings.
(taken from Joshua D. Wright, Judd E. Stone II, "Misbehavioral Economics: The Case Against Behavioral Antitrust", 33 Cardozo L. Rev. 1517 Cardozo Law Review April, 2012.)
in a nutshell:
7. We are clearly getting
more irrational!?
“Behavioural Economics” in U.S. scholar papers
8. Why this teach me!?
Treat your customers,
colleagues or friends as
scientific animals
Show off you superior
knowledge & become an
innovation general/hustler!!
9. Download the template. Yes,
you should print it!
1 Download!
JUST FOLLOW THESE 3 EASY STEPS
After having read the concept,
give yourself 20 seconds to
apply it to a current project
you are working on… before
you move on to next concept!
2 Do!
If you follow these 3 steps,
you can now go on with the
day and apply at least 15
awesome ideas in your work!
3 Enjoy!
Why not increase the value of
this Teach Me?
Click to download
the template
Before you start!
12. We are often ascribing more value to things merely
because we own them.
For example, we are generally demanding much
more to give up an object than we are willing to pay
to acquire it.
Read more on Wikipedia
The Endowment Effect
1
13. We’ll accept smaller payoffs now over larger
payoffs later on.
If you were offered $50 now or $100 in a year,
you’d likely take the $50 now. But what about $50
in five years or $100 in six years? We’ve only
added a delay, but now it feels just as natural to
wait for the $100.
Read more on Coglode
Hyperbolic discounting &
intertemporal choices
2
14. We place disproportionately-high value on self-
made products.
Two groups were given IKEA boxes, with one group
given fully-assembled versions, and the other given
unassembled boxes, which they were told to put
together. This second group were willing to pay
much more for their box during the subsequent
bidding process than those with pre-assembled
boxes.
Read more on Coglode
The IKEA effect & DIY
3
15. We tend to rely too heavily on the first piece of
information seen.
Setting a high price for one item makes all others
seem cheaper, though only when the price shown is
actually plausible (and not some silly amount!)
Read more on Coglode
Anchoring Bias
4
16. Items that stand out from their peers are more
memorable.
But different doesn’t necessarily mean better. Being
different is more memorable, but you need to be
positively remembered for standing out from the
crowd.
Read more on Coglode
The Von Restorff Effect
&The Isolation Effect
5
17. We tend to prefer avoiding losses to
acquiring gains.
Read more on Wikipedia
We tend to like things to stay relatively
the same.
Read more on Wikipedia.
Loss Aversion &
Status Quo Bias
6
18. Restricting pleasure increases pleasure.
Enjoyment of a television program is actually
enhanced by commercial interruptions, despite
what viewers say.
Read more on Coglode
Hedonic Adaption
7
19. As more people come to believe in something, we
will ourselves also hop on the bandwagon
regardless of the underlying value.
We do this because we a) prefer to conform and/or
b) we derive information from others.
Read more on Wikipedia.
The Bandwagon Effect
8
20. Missing an offer means you're less likely to buy in the
future.
Foregoing a very attractive opportunity decreases our
willingness to go for subsequent opportunities.
Rad more on Coglode.
The Inaction Inertia Effect
9
21. Uncompleted tasks stick in your mind more than
completed ones.
Whether it’s a waiter recalling a long order, a
meaningful consumer transaction or a cliffhanger
on Netflix, tasks heavily occupy our minds until
complete.
Read more on Coglode
The Zeigarnik Effect
10
22. We are reacting in different ways to a particular
choice depending on whether it is presented as a
loss or as a gain.
We tend to avoid risk when a positive frame is
presented (e.g save 200 lives > save 33%), but seek
risks when a negative frame is presented (e.g. 400
people will die < 33% chance no people will die).
Read more on Wikipedia.
The Framing Effect
11
23. We purchase faster if the task is already started for
us.
A 10-space coffee card pre-stamped twice will be
completed faster than an 8 with no pre-stamps.
Read more on Coglode.
The Goal Gradient Effect
12
24. Too many choices will lead to indecision and lower
sales.
In a study of jam, consumers were more likely to buy
when offered 6 jams (40%) instead of 24 jams (3%).
Consumers also reported greater buying
satisfaction.
Read more on Coglode
The Choice Paradox
13
25. We perceive round numbers as more trustworthy
and representing higher quality.
Mounting evidence suggests that consumers’ desire
to deal in clean, round numbers trumps their hope
that odd prices signal some kind of sale.
Read more on Coglode.
Round Pricing Preference
14
26. We tend to respond friendly & cooperative to
friendly actions; conversely, we tend to react much
more nasty & brutal to hostile actions.
Read more on Wikipedia.
Reciprocity
15
27. If you want more of this…
Stunning (!!) Teach Me by @tjalve!
Don’t lose out on his wisdom
before its too late :-D
Wikipedia’s amazing
list of cognitive
biases
Visit coglode.com (!!)
Read the book:
Predictably
Irrational
Read the book:
Thinking, Fast &
Slow