With the rise in the number of unicorns, exploring how behavioural science can benefit businesses and entrepreneurs seems an apt theme. Read Want to Perfect Your Company’s Service? Use Behavioral Science by Harvard Business Review to know what businesses can do to improve service provision. Following this, read Part 1 and Part 2 of The Future of Behavioral Science in Business to know more about how behavioural scientists and consultants can contribute immensely to the future of the business world.
In addition, also read A Step-by-Step Guide to Smart Business Experiments to get a brief overview of how business experiments are run. For practitioners, here is an interesting addition 8 Things to Do Before You Run a Business Experiment by Harvard Business Review.
Also have a look at Using Behavioral Science to Influence Change in Your Business by Columbia Business School exploring the 3 engines of change: Abilities, Intentions and Motivations. Also, listen to this interesting video titled Neuromarketing: How brands are getting your brain to buy more stuff exploring the ways companies persuade people to want more things, even those they never knew they needed.
Do smart meters reduce households energy consumption
Negative self-perception hinders job seekers' success. This article by the Behavioural Insights Team deep dives into the interventions incorporating affirmation activities and job interview checklists that increased job seekers' confidence and resulted in higher job placement rates. It talks about how designing programs with behavioral insights is crucial for effective employment initiatives.
Feeling Lucky? How Unexpected Wins Shape Our Risky Decisions
Researchers at the University of Tsukuba have developed a new model called "dynamic prospect theory" that combines prospect theory and reinforcement learning theory to better understand decision-making under uncertainty. Their study involving human participants and macaque monkeys revealed that unexpected outcomes influenced subsequent decision-making by altering the perception of probabilities rather than the valuation of rewards.
Breaking the 21-Day Myth: Machine Learning Unlocks the Secrets of Habit Formation
A new study from Caltech reveals that forming habits can take different amounts of time depending on the behavior. Using machine learning, researchers analyzed data from gymgoers and healthcare workers. They found that forming a gym habit took about six months on average, while hand-washing habits formed in a few weeks. The article highlights the complexity and variability of habit formation.
The Science of Better Sleep
The average human spends one-third of their life asleep. Sleep is a necessity in achieving optimal performance on the daily. Yet, so many of us mess up our sleep and wake up tired and red-eyed. This Farnam Street podcast hosts Dr. Gina Poe who has spent the last four decades understanding the impact of sleep or the lack of it on attention, memory and cognition. Hone into this podcast to understand the importance of sleep on brain functioning while getting simple advice to get that much needed shut-eye.
Healthy Gamification with Mitesh Patel
Gamification is one of the most powerful tools in behaviour science. It allows for an immersive experience that drives behaviour change. This podcast is related to understanding how gamification can be inculcated into contexts of health and self-care. The guest, Mitesh Patel is a seasoned professional that founded the Penn Nudge Unit and is currently the Chief Clinical Transformation Officer at Ascension. This episode of The Behavioral Design podcast titled Healthy Gamification is relevant and brings much-needed clarity to the concept of gamification.
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Editors: Nehal Kaul, Junofy Anto Rozarina
Contributors: Abhishek Chauhan, Manvi Agrawal