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Encouraging Healthy Habits

While behavioral economics has typically been used by companies in many industries to entice consumers to make bad decisions (e.g., pricing or advertising products in ways that entice us to make impulse purchases or consume junk foods), health is one sector in which the incentives are now aligned so that the private sector is motivated to nudge people to make good decisions.


How to use Behavioral Economics to become a better leader

Often, leaders are taught to think of things in the long-term, but if we are to follow the findings of behavioral economics, we must understand that decisions are made impulsively at times, and are based on current emotions.As a leader, it is important to recognize when your teammates engage in this type of behavior, and foster in them a risk-taking attitude. It is your job to navigate your followers along the right way, and help them understand the difference between a dynamic move and a pointless gamble.

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