Secrets of the Moneylab: How Behavioral Economics Can Improve Your Business

by Kay-Yut Chen, Marina Krakovsky

Taking the findings of behavioral economics from the cocktail party to the boardroom. Experimental economist Kay-Yut Chen leads an economics lab at Hewlett- Packard-the first of its kind at any company. His groundbreaking research into human behavior has turned into tangible results for HP. He has saved the company millions of dollars, simply by explaining why people really do the things they do. MoneyLab offers practical lessons being put to use right now at HP and other leading companies. It explains, for instance, how ? 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 ? Take advantage of the human tendency to game the system In the spirit of Predictably Irrational, but with a more practical approach, Chen shows how to translate the findings of behavioral economics into concrete actions to achieve new levels of success.

Genres: Psychology, Business, Economics, Nonfiction

259 pages, Kindle Edition

First published September 2, 2010

Reviews

[Fabio Ismerim Ismerim · Rating 4 out of 5]

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.

[Abdullah Al-Abri · Rating 4 out of 5]

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.

[Jane Dugger · Rating 2 out of 5]

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.

[Richard Thompson · Rating 2 out of 5]

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.

[Vaseem Khan · Rating 4 out of 5]

Excellent Insight, must read for for those who like to understand human mind.