Archivio per 5 maggio 2015

05
Mag
15

How I overcame my fear of cold calling

See on Scoop.itBounded Rationality and Beyond

The place to start with any behaviour change situation is to break it down.

It just doesn’t come easily to me, calling people and interrupting their day. Whether it’s my introverted nature or star sign, I have always had a mental block against cold calling – a problem when you are running a business and need to spread the word.

Pretty clearly I needed to change my behaviour. Putting aside “doctors make the worst patients and teachers the worse students”, I became my very own case study of how to change behaviour. Here’s how I did it.

 Behaviour change model

The place to start with any behaviour change situation is to break it down into four questions:

1. What’s the current behaviour? i.e. Not cold calling

2. What’s the desired behaviour? i.e. Cold calling six businesses a week over across at least three days

3. What are the barriers to change?

4. What are the enablers of change?

This is the model I developed and use with clients to get to the heart of the problem and design solutions.

 
See on smartcompany.com.au

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05
Mag
15

The role of behavioral economic incentive design and demographic characteristics in financial incentive-based approaches to changing health behavio… – PubMed – NCBI

See on Scoop.itBounded Rationality and Beyond

Abstract

Objective . To evaluate the use of behavioral economics to design financial incentives to promote health behavior change and to explore associations with demographic characteristics. Data Source . Studies performed by the Center for Health Incentives and Behavioral Economics at the University of Pennsylvania published between January 2006 and March 2014. Study Inclusion and Exclusion Criteria . Randomized, controlled trials with available participant-level data. Studies that did not use financial incentives to promote health behavior change were excluded. Data Extraction . Participant-level data from seven studies were pooled. Data Synthesis . Meta-analysis on the pooled sample using a random-effects model with interaction terms to examine treatment effects and whether they varied by incentive structure or demographic characteristics. Results . The pooled study sample comprised 1403 participants, of whom 35% were female, 70% were white, 24% were black, and the mean age was 48 years (standard deviation 11.2 years). In the fully adjusted model, participants offered financial incentives had higher odds of behavior change (odds ratio [OR]: 3.96; p < .01) when compared to control. There were no significant interactions between financial incentives and gender, age, race, income, or education. When further adjusting for incentive structure, blacks had higher odds than whites of achieving behavior change (OR: 1.67; p < .05) with a conditional payment. Compared to lower-income participants, higher-income participants had lower odds of behavior change (OR: 0.46; p = .01) with a regret lottery. Conclusion . Financial incentives designed using concepts from behavioral economics were effective for promoting health behavior change. There were no large and consistent relationships between the effectiveness of financial incentives and observable demographic characteristics. Second-order examinations of incentive structure suggest potential relationships among the effectiveness of financial incentives, incentive structure, and the demographic characteristics of race and income.

See on ncbi.nlm.nih.gov

05
Mag
15

Tools of behavioral finance can complement regulation

See on Scoop.itBounded Rationality and Beyond

he following are remarks given by Thomas M. Selman, executive vice president for regulatory policy for the Financial Industry Regulatory Authority Inc., at the LIMRA/LOMA 2015 Regulatory Compliance Exchange in Arlington, Va., on March 18.

On March 30, 1980, the rock-and-roll band Van Halen held a concert in the gymnasium of the University of Southern Colorado as part of its “Party “til You Die Tour.” Following the concert, the university hosted a dinner for Van Halen, with linens and silverware. According to university officials, the band “proceeded to act like a bunch of animals. They ate the lasagna with their hands, threw the food around the room, smashed the food on the walls and each other.” The carpet, drapes and paint in the dining room had to be refurbished. The band’s dressing room also was damaged. The university subsequently banned most campus concerts.

Later reports revealed that Van Halen trashed the dining and dressing rooms because of brown M&Ms. Van Halen’s contract demanded a variety of munchies, including M&Ms, with the following proviso: “WARNING: ABSOLUTELY NO BROWN ONES.” The university had overlooked this clause and served brown M&Ms. For this indignity the band destroyed university property.

See on investmentnews.com

05
Mag
15

A Theoretical Organizational Framework, Logic, and Ethic for Governments

See on Scoop.itIt Comes Undone-Think About It

The science of policy-making, governance, and politicking from the perspective of improving, enhancing, and maintaining power structures all stem from the science, principles, practices, and ethics of good medicine from the perspective of benefitting all patients.  Policy-making and governance are the technical, scientific parts of it.  Advisors, staff, and researchers are like the specialists, surgeons, and medical researchers who develop the techniques full time; potentially great at what they do and at operating technically, but sometimes not so great at the bedside manner which is important in communicating medical treatments and policies to and for the general public.  Politicians and those who work with the public need to be more like the family doctor or the general practitioner; trained and aware of the science and limitations and able to do experimental treatments sometimes, but ultimately owing a lot of advice and knowledge to the researchers and technical specialists.  The communication processes with the public and with people in the public is an art.  It can be practiced and taught; but not all will be great at it due to personality, temperament, or preference.

The politicians are the ones who need to be able to synthesize all of the research and knowledge and practices of every field of medicine in order to come up with an accurate, general, and overall picture of societal, economic, and environmental health in order to make the day to day management choices over the governing agencies and the social body that is human society.  Advisors, researchers, and staff help fill in the technical cracks in their knowledge, awareness, and function, creating a detailed yet holistic synthesis of information for the politicians to do.  All members of the government and the governing and research bodies are interdependent on one another and on the health and well-being of the society that is in their technical charge.  Any failure in the society that can be addressed by government is ultimately a reflection of the failures within the government.  Any failure in the society that the government cannot get at due to a matter of political choice and preference on the part of the society is a fault of the society.  These can possibly be remedied by the government through its policy and choice making systems in given moments and over time, especially as the benefits and costs are made more known to the public.  There is also the fact that there are diverse “correct” answers in policy making depending upon the given situation that a planet, international region, country, intra-country region, state, intrastate region, or locality may be in that does no harm to others or to themselves and enables the given area to thrive due to its favorable circumstances and choices.  All of these layers must work together and communicate with one another freely, openly, and honestly in order to ensure optimal functionality in the long term, both within governmental organizations and across social organizations and people.  Otherwise, we get less effective and efficient policy-making and governance in our social world and across societies, which ultimately costs lives, well-being, health, quality of life, resources, energy, and effort for disappointing or negative returns.

05
Mag
15

Ranking in interconnected multilayer networks reveals versatile nodes

See on Scoop.itPapers

The determination of the most central agents in complex networks is important because they are responsible for a faster propagation of information, epidemics, failures and congestion, among others. A challenging problem is to identify them in networked systems characterized by different types of interactions, forming interconnected multilayer networks. Here we describe a mathematical framework that allows us to calculate centrality in such networks and rank nodes accordingly, finding the ones that play the most central roles in the cohesion of the whole structure, bridging together different types of relations. These nodes are the most versatile in the multilayer network. We investigate empirical interconnected multilayer networks and show that the approaches based on aggregating—or neglecting—the multilayer structure lead to a wrong identification of the most versatile nodes, overestimating the importance of more marginal agents and demonstrating the power of versatility in predicting their role in diffusive and congestion processes.

Ranking in interconnected multilayer networks reveals versatile nodes
Manlio De Domenico, Albert Solé-Ribalta, Elisa Omodei, Sergio Gómez & Alex Arenas

Nature Communications 6, Article number: 6868 http://dx.doi.org/10.1038/ncomms7868 ;

See on nature.com

05
Mag
15

Behavioural economics meets development economics [podcast]

See on Scoop.itBounded Rationality and Beyond

What is behavioural economics, and what does it have to do with development?

In the latest Development Drums podcast, I discuss this with Varun Gauri, who was co-editor of the recent World Development Report, Mind Society and Behaviour, one of the most accessible and widely-read World Development Reports of recent years.

According to Dr Gauri, economists recognise that many resources are scarce (labour, capital, land etc) but fail to acknowledge that cognition is also scarce. And because of this, people routinely make decisions which are bad for them.

Dr Gauri argues that these problems affect people living in poverty at least as much as everyone else, and probably more. The poor do not have access to systems which simplify decision making (e.g. automatic payroll deductions) and the effects of bad decisions can be disproportionate.

In the podcast we discuss the implications for development cooperation. Dr Gauri argues that there are implications for improved service delivery, for international negotiations, and perhaps for a range of other policies. He also points out that these biases affect the staff of development agencies as much as they do everyone else.  He rejects my suggestion that the issues raised by behavioural economics are less important to development than the issues addressed by conventional economics.

See on owen.org




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