Episode 116: 28th May 2020

Behavioural Science, Ripple, Nudge and Richard Thaler keep us well behaved this week.

During challenging times the ways in which we respond and react to situations, ideas and opportunities can become skewed so this week we thought we’d take some time to focus on what makes us tick, how we know what makes us tick and how we can be influenced to behave in a certain way.

Beginning with a topical discussion around Behavioural Science we take a look at human behaviour from an economic, emotional and psychological perspective all of which have in impact on our buying decisions, business decisions and unconscious bias.

Tracy flags up a bevvy of TED talks which go into detail and give examples of what shapes our behaviour so settle down and tune in:

Dan Ariely – What Makes Us Feel Good or Bad about our Work?
Tali Sharot – The Optimism Bias
Daniel Kahneman – The Riddle of Experience vs Memory
Alex Laskey – How behavioural science can lower your energy bill

Heather on the other hand focuses on how we measure such things and visits The Decision Lab and Social-Change.Co.Uk for methodology and methods of measuring behaviour. All make for fascinating watching and reading.

In other news we catch up with the latest Covid information from the ONS, suggest a visit to the CIPD Festival of Work in June 2020, up a couple of news items and ponder why it’s so difficult to read a book these days. Heather introduces us to an initiative which hopes to save the fashion industry manufacturers who are suffering as a result of Covid. The Lost Stock Buy A Fashion Box initiative provides heavily discounted clothing that would otherwise go to landfill. And our long standing favourite Dame Stephanie Shirley drops off The Sunday Times Rich List for all the right reasons.

Our review this week is of the book Ripple by Jez Groom and April Vellacott. It talks about the big effects of small behaviour changes in business and the case studies used are both fascinating, thought provoking and real. Heartily recommended by us both.

And finally, sticking with the behavioural element we take time to profile Richard Thaler a behavioural economist (who knew?). Awarded the Nobel Memorial Prize in Economic Sciences in 2017 he is more interesting than you might think. Check out this interview in the FT in which he brings to life much of his theories, he talks about nudge and why the Remain campaign was destined to fail.

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2020-05-28T15:00:42+00:00