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Secrets of the Moneylab: How Understanding People Will Increase Your Profits
Taking behavioral economics from the cocktail party to the boardroom, with dramatic results
Books like Predictably Irrational and Nudge have brought behavioral economics into the mainstream. But while we all marvel at how different-and weird-real people behave compared to the "rational actors" of traditional economics, in the end we go back to business as usual. After all, what do a few laboratory experiments have to do with making a buck?
As economist Kay-Yut Chen has shown, quite a bit. Chen started behavioral economics research at Hewlett-Packard, founding the first such "moneylab" at any company, let alone one in the Fortune 500. His groundbreaking research into human behavior has led to tangible results for HP. In fact, he has saved the company millions of dollars by showing how changing the right conditions can make people behave very differently.
Secrets of the Moneylab offers practical lessons being put to use right now at HP and other leading companies. It explains, for instance, how to:
* Use incentives to influence employees, suppliers, and buyers.
* Determine whom to trust, and how much.
* Reduce the negative effects of irrational behavior by noticing patterns that don't seem logical-but are utterly predictable.
* Overcome the human tendency to game the system.
* Profit from motives beyond money.
Chen and science writer Marina Krakovsky reveal in plain English how to translate the counterintuitive findings of behavioral economics into concrete action steps for businesses of any size. Secrets of the Moneylab shows how tackling your real-world problems like a scientist can open up entirely new realms of possibility and profit.
Books like Predictably Irrational and Nudge have brought behavioral economics into the mainstream. But while we all marvel at how different-and weird-real people behave compared to the "rational actors" of traditional economics, in the end we go back to business as usual. After all, what do a few laboratory experiments have to do with making a buck?
As economist Kay-Yut Chen has shown, quite a bit. Chen started behavioral economics research at Hewlett-Packard, founding the first such "moneylab" at any company, let alone one in the Fortune 500. His groundbreaking research into human behavior has led to tangible results for HP. In fact, he has saved the company millions of dollars by showing how changing the right conditions can make people behave very differently.
Secrets of the Moneylab offers practical lessons being put to use right now at HP and other leading companies. It explains, for instance, how to:
* Use incentives to influence employees, suppliers, and buyers.
* Determine whom to trust, and how much.
* Reduce the negative effects of irrational behavior by noticing patterns that don't seem logical-but are utterly predictable.
* Overcome the human tendency to game the system.
* Profit from motives beyond money.
Chen and science writer Marina Krakovsky reveal in plain English how to translate the counterintuitive findings of behavioral economics into concrete action steps for businesses of any size. Secrets of the Moneylab shows how tackling your real-world problems like a scientist can open up entirely new realms of possibility and profit.
256 pages, Hardcover
First published September 2, 2010
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Displaying 1 - 5 of 5 reviews
December 22, 2017
Muito bom!
Estava atrás de um conteúdo que me mostrasse um pouco de como aplicar os conceitos e teorias da Economia Comportamental nas empresas.
A proposta é mostrar os benefícios de realizar experimentações antes de colocar alguma ideia em prática. Entender o comportamento humano com os experimentos e teorias sólidas da ciência cognitiva.
Estabelecer preços nos produtos, o poder da reciprocidade, reputação, modelando regras efetivas permitindo avaliar a "desonestidade" dos envolvidos, dentre outras coisas.
Insights poderosos retirados daqui.
Estava atrás de um conteúdo que me mostrasse um pouco de como aplicar os conceitos e teorias da Economia Comportamental nas empresas.
A proposta é mostrar os benefícios de realizar experimentações antes de colocar alguma ideia em prática. Entender o comportamento humano com os experimentos e teorias sólidas da ciência cognitiva.
Estabelecer preços nos produtos, o poder da reciprocidade, reputação, modelando regras efetivas permitindo avaliar a "desonestidade" dos envolvidos, dentre outras coisas.
Insights poderosos retirados daqui.
October 9, 2017
This a great book that talks about social economic, it has many studies that will help you understand what is social economic and how it can reflect the society, also how can the society impact the product or service and how the company may lose because they didn't anticipate what level of stock they should have.
January 29, 2013
It was OK. I really thought it would be more about behavioral economics like the book Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. Definitely much more business oriented than what I was hoping for. Note to self: read subtitle next time.
January 24, 2015
I probably would have liked this book better if I had not previously read the much superior Thinking Fast and Slow. There just wasn't any new information for me here beyond what I already knew. It is engagingly written, and there is nothing really wrong with it, but in my view it is not the best introduction to the subject of behavioral economics and its applications in business.
December 31, 2011
Excellent Insight, must read for for those who like to understand human mind.
Displaying 1 - 5 of 5 reviews