Nudge or Fudge: Creating Extraordinary Strategies 🔗

Introduction

Economics theory describes humans as always rational when making a decision. We always want to make choices to maximise some objective or function, mainly optimising or maximising profits. However, most of the time, the human is less than entirely rational during the decision-making process. People are prone to make predictable and avoidable mistakes. At the same time, decision making is systematic and amenable to scientific study. This sharing focuses on behavioural economics that attempts to address irrational human behaviour in light of the limited cognitive capacity and inherent cognitive failings to explore alternatives to perfect rationality. Behavioural Economics seeks to provide micro-foundations for our choices. Humanology would nurture you to be the technical expertise to help the organisation to boost their productivity through behavioural insights. Behavioural insights forms desired behavioural for strategies including policies, marketing, finance, organisation, consumer behavioural and choice selection.