The use of psychology to understand why economic choices are taken, and the best ways of influencing these actions
Behavioural Economics studies the effects of psychological, social, cognitive and emotional factors, on the economic decisions of individuals and institutions.
These decisions have consequences for driving behavioural change, informing how market decisions are made and how to drive public choice. Behavioural models typically integrate insights from psychology, neuroscience and micro-economic theory, bringing together a wide range of disparate concepts.
Heuristics, framing motivational language, are prevalent themes.
We, at 4insight, use behavioural economic approaches, to tailor our conceptual research methodology, and there can be significant benefit, to be gained, by
including such sophisticated techniques.