What grabbed my attention was a section comparing homo economicus with Homer Simpson, rational economic thinking versus the impulsive American comedic icon.
Most economics is based on individuals
exercising rational decision-making to achieve maximum personal utility, be
this in terms of financial or psychic income.
Their collective response allows
statements to be made about aggregated economic behaviour. Such a view is being
challenged by behavioural economists who integrate lessons from psychology with
the 'laws' of economics.
They believe behaviour is not always driven by a
conscious cost-benefit approach but can be influenced by emotional and cultural
factors, which can lead to decisions which contradict economic theory, are
irrational and inconsistent, and may not be in the individual's best interests.
The second edition of Behavioral Economics: The Basics summarizes behavioral economics, which uses insights from the social sciences, especially psychology, to explain real-world economic behavior. Behavioral economic insights are routinely used not only to understand the choices people make but also to influence them, whether the aim is to enable citizens to lead healthier and wealthier lives, or to turn browsers into buyers.
Revised and updated throughout with fresh current-event examples, Behavioral Economics: The Basics provides a rigorous yet accessible overview of the field that attempts to uncover the psychological processes which mediate all the economic judgements and decisions we…
I grew up in the 1950s next door to Long Island’s iconic Levittown. All my aunts and uncles lived in similar modest suburbs, and I assumed everyone else did, too. Maybe that explains why America’s sharp economic U-turn in the 1970s so rubbed me the wrong way. We had become, in the mid-20th century, the first major nation where most people—after paying their monthly bills—had money left over. Today we rate as the world’s most unequal major nation. Our richest 0.1 percent hold as much wealth as our bottom 90 percent. I’ve been working with the Institute for Public Studies, as co-editor of Inequality.org, to change all that.
Our nation’s most insightful—and readable—sociologist? Boston College’s Juliet Schorr has my vote.
Over the past quarter-century, Schor has probably done more than anyone else in the world to bring grand conceptual constructs like income distribution down to the nitty-gritty of daily life.
Her 1999 best-seller,The Overspent American, strikingly exposes how inequality unleashes a “competitive consumption” dynamic that has us consuming ever more and enjoying life ever less. And that dynamic poses more dangers today than ever before.
As Schor put it in an interview with her I did some years back, we have “no chance” at achieving ecological sustainability “with the kind of extreme income distribution” that we have today.
An in-depth look at the corruption of the American Dream, the follow-up to the the Overworked American examines the consumer lives of Americans and the pitfalls of keeping up with the Joneses. Schor explains how and why the purchases of others in our social and professional communities can put pressure on us to spend more than we can afford to, how television viewing can undermine our ability to save, and why even households with good incomes have taken on so much debt for so many products they dont need and often dont even want.
I am a historian based in England, raised in Texas. While undertaking a summertime spoken Latin course at the Vatican in 2001 I found myself in the midst of Italian protests against that year’s G8 summit in Genoa. The strength of the anti-globalization movement, and the violent response from the Carabinieri, sparked an early interest in the historical controversies surrounding globalization and US foreign policy. Ten years later, I had a PhD in History from the University of Texas at Austin and the first draft of what would become my book,The “Conspiracy” of Free Trade.
Where to begin. Hoganson’s first book had already transformed our understanding about why the US acquired a colonial empire in 1898 through the politics of gender.
In Consumers’ Imperium she once again flips the script by investigating the domestic side of the Gilded Age capitalist empire. In doing so, wealthy white women are recast as power brokers of American globalization and imperialism through their purchasing habits, exhibitions, and armchair travel clubs.
Histories of the Gilded Age and Progressive Era tend to characterize the United States as an expansionist nation bent on Americanizing the world without being transformed itself. In ""Consumers' Imperium"", Kristin Hoganson reveals the other half of the story, demonstrating that the years between the Civil War and World War I were marked by heightened consumption of imports and strenuous efforts to appear cosmopolitan. Hoganson finds evidence of international connections in quintessentially domestic places - American households. She shows that well-to-do white women in this era expressed intense interest in other cultures through imported household objects, fashion, cooking, entertaining, armchair…
I am an author, nonfiction writing geek, and marketing practitioner on a mission to help people make a positive impact with their writing. Before setting out on this path, I spent many years as a marketing consultant, working with over 100 technology companies to articulate their messaging and value to customers and prospects. My first book, Subscription Marketing, was my manifesto about the changes needed in marketing to thrive in the emerging, subscription-based world. It’s now in its third edition and has been translated into multiple languages.
Want to create more raving fans for your business? Maybe true success isn’t in the number of your customers but the depth of their loyalty. David Meerman Scott writes this book together with his daughter Reiko Scott, delivering a multi-generational perspective into what it means to be a fan, and how to cultivate them.
From the author of New Rules of Marketing & PR, a bold guide to converting customer passion into marketing power.
How do some brands attract word-of-mouth buzz and radical devotion around products as everyday as car insurance, b2b software, and underwear? They embody the most powerful marketing force in the world: die-hard fans.
In this essential book, leading business growth strategist David Meerman Scott and fandom expert Reiko Scott explore the neuroscience of fandom and interview young entrepreneurs, veteran business owners, startup founders, nonprofits, and companies big and small to pinpoint which practices separate organizations…
We live in the age of selfies, when it’s easy to snap a picture of ourselves in the day-to-day activities of our lives. But a deeper and far more satisfying journey is to take a selfie of our inner selves to better understand who we are, what we want, and how to get it. I’ve spent a lifetime on this journey. Self discovery and self understanding, and through them self-empowerment, these are the essence of my work. As a #1 bestselling author, my purpose is to help others discover their purpose, and live it. The five books I’ve recommended here have helped me greatly along that path.
Entire industries exist to manipulate us based on characteristics of human psychology that nature has programmed into us. An important part of knowing ourselves is to know these characteristics and understand how to use them for our benefit, instead of the benefit of those who would use our human nature against us.
Influence: Science and Practice is an examination of the psychology of compliance (i.e. uncovering which factors cause a person to say "yes" to another's request).
Written in a narrative style combined with scholarly research, Cialdini combines evidence from experimental work with the techniques and strategies he gathered while working as a salesperson, fundraiser, advertiser, and in other positions inside organizations that commonly use compliance tactics to get us to say "yes." Widely used in classes, as well as sold to people operating successfully in the business world, the eagerly awaited revision of Influence reminds the reader of the power of…
Everyone survives by selling something whether we wear the title or not. Selling has been my career, even before I was a salesperson. I started my career in engineering but quickly realised my passion was in developing business, not designing industrial ventilation systems. Helped by a boss who also saw I was better suited to roles other than engineering (he wasn’t so polite) I went on to enjoy a successful career spanning 4 decades working in Australian, Asian, and European markets that embraced all facets of sales and business development. Helped by great mentors and learning from the experience of others, I have endeavoured to give back by mentoring business owners, salespeople, and writing.
The business world is obsessed with big data and artificial intelligence.
Big data is collected for analysis. Analysis through AI. It lacks to ability to capture emotion and to be successful long-term, businesses need to connect with their markets at an emotional level.
Lindstrom uses real-life case studies to show how looking at the little things; how people use items and why, and observing what others don’t see in a home, a workplace, or a community can help better deliver concepts that big data just can’t see.
The New York Times Bestseller named one of the "Most Important Books of 2016" by Inc, and a Forbes 2016 "Must Read Business Book"
'If you love 'Bones' and 'CSI', this book is your kind of candy' Paco Underhill, author of Why We Buy
'Martin's best book to date. A personal, intuitive, powerful way to look at making an impact with your work' Seth Godin, author of Purple Cow
Martin Lindstrom, one of Time Magazine's 100 Most Influential People in The World and a modern-day Sherlock Holmes, harnesses the power of "small data" in his quest to discover the next…
Frank R. Kardes, Ph.D. is the Donald E. Weston Professor of Marketing and Distinguished Research Professor at the Lindner College of Business at the University of Cincinnati. He is a recipient of the Distinguished Scientific Achievement Award of the Society for Consumer Psychology, and a Fellow of five national professional societies. His research focuses on omission neglect, consumer judgment, and inference processes, persuasion and advertising, and consumer and managerial decision making. He was Co-Editor of Advances in Consumer Research, Journal of Consumer Psychology, the Handbook of Consumer Psychology, and Marketing Letters, and serves or has served on seven editorial boards. He has published nine books and over 100 articles and chapters on consumer psychology.
The new fourth edition of the classic text on cognitive social psychology with many important implications for understanding consumer psychology. The authors are leading researchers and the text is organized using an information processing perspective. The text covers classic social psychological topics, such as person perception, person memory, stereotyping, attitudes and persuasion, causal inference, and decision making. The text is science-based, high level, but also very readable and appropriate for a general audience.
The social world is complicated and our minds are limited, so we take shortcuts. You have to make quick decisions - this person is dangerous, this one is not. The shortcuts we take mostly work well enough, because, after all, we survive. But some are deeply unjust, including racial or social class categories or other unfair stereotypes.
This book will help you understand how these shortcuts work, why they exist, and how they are changing.
There are examples in each chapter which * Show applications in the real world to help with your understanding * Highlight significant pieces of research…
In my younger days I was a graphic designer and copywriter, approaching brands largely from a creative viewpoint. Over the years I’ve discovered that creative work is much more powerful when harnessed to business strategy, and business strategy is much more powerful when combined with exceptional creative work. I’ve characterized the gulf between strategy and creativity as the “brand gap,” which has led to eight books on branding and a school for professional mastery called Level C.
Marketing psychologist Kit Yarrow explains how technology has rewired our brains, making us more individualistic, isolated, emotional, and distrustful. This is not a pessimistic book—it’s a practical guide to addressing customers’ desires and insecurities in a time of deep cultural shifts. Not only has she done her homework, but she also presents the results with lightness and clarity.
Take a glimpse into the mind of the modern consumer A decade of swift and stunning change has profoundly affected the psychology of how, when, and why we shop and buy. In Decoding the New Consumer Mind, award-winning consumer psychologist Kit Yarrow shares surprising insights about the new motivations and behaviors of shoppers, taking marketers where they need to be today: into the deeply psychological and often unconscious relationships that people have with products, retailers, marketing communications, and brands. Drawing on hundreds of consumer interviews and shop-alongs, Yarrow reveals the trends that define our transformed behavior. For example, when we…
I've been working in the field of AI for 40 years, first in graduate school and then as a professor. For the most part, I have had my head in the sand, focusing on the minutiae that occasionally lead to publications, the coins of the academic realm. When deep learning started exhibiting human-level pattern recognition abilities, the number of AI books for the general public began to swell. Unfortunately, the science-fiction scenarios were a bit much. Since understanding, recognizing, and admitting problems are vital steps toward a solution, I find these books to be the most important warnings of the impending tech-dominated future.
Although it is now a well-known fact that many actors are fighting for our online attention, and will do just about anything to get and keep it, Wu puts it all in historical perspective by going back to the 1800’s and the beginning of print advertising.
He then traces our relationships with ads across a century and four screens: movies, television, home computers, and finally the cell phone. For the same reason that I enjoy reading history books to try to make some sense of the world’s current political chaos, this masterpiece by Wu should ensure you that nothing about human greed has changed in any major way: the tools of exploitation just get more powerful and more addictive.
Attention merchant: an industrial-scale harvester of human attention. A firm whose business model is the mass capture of attention for resale to advertisers. In nearly every moment of our waking lives, we face a barrage of advertising enticements, branding efforts, sponsored social media, commercials and other efforts to harvest our attention. Over the last century, few times or spaces have remained uncultivated by the 'attention merchants', contributing to the distracted, unfocused tenor of our times. Tim Wu argues that this is not simply the byproduct of recent inventions but the end result of more than a century's growth and expansion…
As far back as I can remember, I’ve spent a lot of time worrying about things like why there is something instead of nothing, why we can remember the past but not the future, and how consciousness arises. Although I’m a professor of economics, I take such things seriously enough to have published some papers in philosophy journals, and even a whole book about philosophy called The Big Questions. These are some of the books that sharpened my thinking, inspired me to think more deeply, and convinced me that good writing can render deep ideas both accessible and fun.
Would you guess that the average daily temperature in San Francisco is above or below 558 degrees Fahrenheit?
I'm going to assume you guessed "below", because that's the right answer and absolutely everybody gets it right.
Now---what would you guess is the actual average daily temperature in San Francisco? If you are like just about everybody, your guess right now is quite a bit higher than the guess you’d have made a minute ago, before you saw my first (entirely ludicrous) question. This well-documented effect persists even when subjects are told about it and warned not to fall prey to it.
Perhaps I’m overestimating, but I believe this book contains about 14 billion equally fascinating and weird facts about how human minds process information. But although these facts are quirky, they are not quirks --- they are central to the working of the human mind, not just little mistakes we…
Prada stores carry a few obscenely expensive items in order to boost sales for everything else (which look like bargains in comparison). People used to download music for free, then Steve Jobs convinced them to pay. How? By charging 99 cents. That price has a hypnotic effect: the profit margin of the 99 Cents Only store is twice that of Wal-Mart. Why do text messages cost money, while e-mails are free? Why do jars of peanut butter keep getting smaller in order to keep the price the "same"? The answer is simple: prices are a collective hallucination.
