Archivio per 15 novembre 2013

15
Nov
13

Using Behavioral Economics, Psychology, and Neuroeconomics to Maximize Sales – Shopify

See on Scoop.itBounded Rationality and Beyond

When it comes to developing a smart ecommerce pricing strategy, there are very important lessons to be learned from behavioral economics, psychology, and neuroeconomics.  Researchers in these fields have rigorously tested consumer behavior and have learned how we react to different forms of pricing. These learnings will give you insights into your customer’s minds on a large scale, and will show you similar patterns and habits that you can leverage to your benefit. Some people may find these disciplines intimidating, but applying their principles to your ecommerce store is easy. 

See on shopify.com

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15
Nov
13

Using Behavioral Economics, Psychology, and Neuroeconomics to Maximize Sales – Shopify

See on Scoop.itBounded Rationality and Beyond

When it comes to developing a smart ecommerce pricing strategy, there are very important lessons to be learned from behavioral economics, psychology, and neuroeconomics.  Researchers in these fields have rigorously tested consumer behavior and have learned how we react to different forms of pricing. These learnings will give you insights into your customer’s minds on a large scale, and will show you similar patterns and habits that you can leverage to your benefit. Some people may find these disciplines intimidating, but applying their principles to your ecommerce store is easy. 

See on www.shopify.com

15
Nov
13

The Brain “Sees” Objects That You Don’t Perceive

See on Scoop.itBounded Rationality and Beyond

A new study shows how much visual input the brain processes, but we never consciously see. Every day, when you open your eyes in the morning, there is a huge flood of visual information from the external world into your mind.

Your brain edits this flood down to a trickle of things that are highly relevant: Where is the dressing-gown? Where is the curtain? Where is the door? The rest of it–the state of the carpet, the shadows on the ceiling–all gets ignored.

Or does it?

 
See on www.spring.org.uk

15
Nov
13

The Brain “Sees” Objects That You Don’t Perceive

See on Scoop.itBounded Rationality and Beyond

A new study shows how much visual input the brain processes, but we never consciously see. Every day, when you open your eyes in the morning, there is a huge flood of visual information from the external world into your mind.

Your brain edits this flood down to a trickle of things that are highly relevant: Where is the dressing-gown? Where is the curtain? Where is the door? The rest of it–the state of the carpet, the shadows on the ceiling–all gets ignored.

Or does it?

 
See on spring.org.uk

15
Nov
13

The Power of Networks | World Economic Forum 2012

See on Scoop.itMobilizing Knowledge through Complex Systems

The World Economic Forum (WEF) is a Geneva-based non-profit organization best known for its Annual Meeting in Davos, Switzerland, the Annual Meeting of New Champions in China (Summer Davos) and the Summit on the Global Agenda in Dubai.

Erika Harrison’s insight:

“*Nowadays, any organization should employ network scientists/analysts who are able to map and analyse complex systems that are of importance to the organization (e.g. the organization itself, its activities, a country’s economic activities, transportation networks, research networks).

*Interconnectivity is beneficial but also brings in vulnerability: if you and I are connected we can share resources; meanwhile your problems can become mine and vice versa.

*The concept of “crystallized imagination” refers to things that are first in our head and then become reality. This concept can be turned into network applied research on economic complexity of a country’s economic activities and development prospects”.

See on weforum.org

15
Nov
13

Social Influence and the Collective Dynamics of Opinion Formation

See on Scoop.itBounded Rationality and Beyond

Social influence is the process by which individuals adapt their opinion, revise their beliefs, or change their behavior as a result of social interactions with other people. In our strongly interconnected society, social influence plays a prominent role in many self-organized phenomena such as herding in cultural markets, the spread of ideas and innovations, and the amplification of fears during epidemics. Yet, the mechanisms of opinion formation remain poorly understood, and existing physics-based models lack systematic empirical validation. Here, we report two controlled experiments showing how participants answering factual questions revise their initial judgments after being exposed to the opinion and confidence level of others. Based on the observation of 59 experimental subjects exposed to peer-opinion for 15 different items, we draw an influence map that describes the strength of peer influence during interactions. A simple process model derived from our observations demonstrates how opinions in a group of interacting people can converge or split over repeated interactions. In particular, we identify two major attractors of opinion: (i) the expert effect, induced by the presence of a highly confident individual in the group, and (ii) the majority effect, caused by the presence of a critical mass of laypeople sharing similar opinions. Additional simulations reveal the existence of a tipping point at which one attractor will dominate over the other, driving collective opinion in a given direction. These findings have implications for understanding the mechanisms of public opinion formation and managing conflicting situations in which self-confident and better informed minorities challenge the views of a large uninformed majority.

See on arxiv.org

15
Nov
13

Social Influence and the Collective Dynamics of Opinion Formation

See on Scoop.itBounded Rationality and Beyond

Social influence is the process by which individuals adapt their opinion, revise their beliefs, or change their behavior as a result of social interactions with other people. In our strongly interconnected society, social influence plays a prominent role in many self-organized phenomena such as herding in cultural markets, the spread of ideas and innovations, and the amplification of fears during epidemics. Yet, the mechanisms of opinion formation remain poorly understood, and existing physics-based models lack systematic empirical validation. Here, we report two controlled experiments showing how participants answering factual questions revise their initial judgments after being exposed to the opinion and confidence level of others. Based on the observation of 59 experimental subjects exposed to peer-opinion for 15 different items, we draw an influence map that describes the strength of peer influence during interactions. A simple process model derived from our observations demonstrates how opinions in a group of interacting people can converge or split over repeated interactions. In particular, we identify two major attractors of opinion: (i) the expert effect, induced by the presence of a highly confident individual in the group, and (ii) the majority effect, caused by the presence of a critical mass of laypeople sharing similar opinions. Additional simulations reveal the existence of a tipping point at which one attractor will dominate over the other, driving collective opinion in a given direction. These findings have implications for understanding the mechanisms of public opinion formation and managing conflicting situations in which self-confident and better informed minorities challenge the views of a large uninformed majority.

See on arxiv.org




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