Behaving economically with the truth: how behavioural economics can help market research to better understand, identify and predict behaviour

Abstract

People are rational, utility-maximising, cost-minimising and socially isolated individuals with stable preferences, or so traditional economists would have us believe - and not just economists, but many market researchers too. This presentation will describe the many human biases identified by behavioural economics and will unveil a new mass ethnographic approach – the behavioural detectives – that has been borne out of BrainJuicer’s understanding of behavioural economics. Referencing a case study on the context of irresponsible drinking, this presentation will show how this approach can provide an indispensible framework for observation that can enrich our understanding of, and better explain, predict and influence human behaviour