My th s of A n a ly t i c s
to what we’re most familiar with (even
if another choice is better for us). The
popularity of behavioral economics reflects a growing interest in tapping irrationality for business and government.
There are still plenty of questions about
how best to merge economics and psychology, but their immutable relationship
beyond traditional utilitarian theory is
without doubt. (Read more.)
Takeaway: Even the tightest models
are fallible due to the unpredictability of
human behavior.
often causing us to forget information
and events. University of Illinois professor Brian Gonsalves conducted research
in which he found subjects were able to
recall information correctly only 54 percent of the time after being shown simple
images and descriptions. Gonsalves explains that some people may remember
the general context of an event, but may
not encode specific details. (Read more.)
Another study on the effectiveness of different advertising research methodologies found that less than 70 percent of
respondents were able to X