The document discusses how behavioral economics can be applied to better understand when customers don't act rationally. It outlines 10 common irrational biases that can influence customer decision making, such as present bias, loss aversion, and overconfidence. The document advocates that companies start with in-depth customer insights from data, research, and analysis to generate and test hypotheses about what biases may be impacting customer decisions. Armed with this understanding, companies can then design experiments to test mitigations and improve customer experiences and outcomes.