Posts tagged behavioral economics
The Scarcity Heuristic: Why We Want What We Can't Have

Humans desire scarcity. Whether it’s a bar of gold, a Pumpkin Spice Latte only available in the Fall or early access to a social-networking service. If it’s rare, our primal brains want it. And the more scarce we perceive something to be, the more we desire it.  So in a noisy world inundated with content that’s available just a click away, marketers just might be able to cut through the clutter by using exclusivity and scarcity as a part of their marketing strategy.

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Episode 5: The Persuasive Power of People in Authority

Our brains simply don’t have the bandwidth to evaluate every single decision, that’s why it looks for authoritative voices to tell us what to do. But did you know that our brains will react to a signal of authority, no matter who it comes from, with the same level of effectiveness?

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Episode 4: It’s What’s Not There That Matters

Why is it that losing out on something is twice as action-inducing as gaining something? This is our brain leveraging the loss aversion heuristic. Because at the end of the day, people would much rather sacrifice a reward than lose something they have … or even perceive that they have.

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Episode 3: This is Why Our Brain Gives Influential Power to Our Most Recent Experiences

Because an event happened more recently, our brain will overestimate its relevancy, and in turn, deem it to be more significant. That’s because, to make decisions, our brains rely on what comes to mind quickly. In this episode of Catalytic Results, Hamid Ghanadan breaks down the influential power of the availability heuristic.

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