Behavioural science has given us concepts, theories, and frameworks that help make sense of the complexities of human behaviour and how people make decisions. Some of these focus on understanding the critical role of context or explore concepts such as anchoring or framing of information. Others look at how everyone is wired with inherent pre-dispositions, otherwise known as cognitive biases, that cause us to act in certain ways. Examples of these biases include availability bias and confirmation bias.
Arguably the most famous theory in the behavioural science world was popularised by Nobel Laureate Daniel Kahneman and describes the process of ‘thinking fast and slow’ otherwise known as System 1 and System 2 thinking. This two-system model has been widely adopted due to its simplicity and intuitive nature. Nowadays, even if you don’t know anything about behavioural science, you’ve probably heard of Kahneman and would recognise the phrase System 1 and 2’.