Putting theory into practice
Tom Vannozzi and Stephen Skippon
Introduction
There has been considerable excitement in recent years around the use of Behavioural Economics in market research, advertising and marketing. Whilst it has existed in the world of academia since the late 1970s, a number of recent popular publications such as Nudge (Thaler & Sunstein, 2009), Predictable Irrational (Ariely 2008), Sway (Brafman & Brafman, 2009), Freakonomics (Levitt & Dubner, 2005), and Thinking Fast and Slow (Kahneman, 2011) to name but a few have helped give those interested a common frame of reference and a new terminology to leaven their understanding...