Red Hot or Red Herring: Seven principles of behavioural economics

This article draws from findings in 'Behavioural Economics in Action: Strategies and Insights from the IPA Effectiveness Awards', a best practice guide that provides tangible examples and top tips on how behavioural economics can creatively solve business problems.

Red Hot or Red Herring: Seven principles of behavioural economics

Nick SouthgateBehavioural Economics Consultant

At the beginning of the Behavioural Economic Agenda in 2009 we published 'Behavioural Economics: Red Hot or Red Herring?' to establish why IPA members should take Behavioural Economics seriously.

We listed seven reasons then. This was never meant to be either an exhaustive or a definitive list (although it was often taken as such – itself a lesson in how Choice Architecture works). We hoped they were principles agencies could learn from and apply.

This article recaps on those seven principles, as well as looking...

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