Download Secrets of the Moneylab: How Behavioral Economics Can Improve Your Business AudioBook Free
Taking behavioral economics from the cocktail party to the boardroom, with dramatic results. Literature like Predictably Irrational and Nudge have brought behavioral economics into the mainstream. But while we all marvel at how different - and strange - real people behave set alongside the "rational actors" of traditional economics, in the long run we go back to business as usual. After all, what execute a few laboratory experiments have to do with making a buck? As economist Kay-Yut Chen shows, quite a bit. Chen started behavioral economics research at Hewlett-Packard, founding the first such "moneylab" at any business, let alone one in the Lot of money 500. His groundbreaking research into human behavior has led to tangible results for HP. Actually, he has preserved the company millions of dollars by demonstrating how changing the right conditions can make people behave very in different ways. Secrets of the Moneylab offers sensible lessons being used right now at Horsepower and other leading companies. It clarifies, for example, how to:
- Use bonuses to influence employees, suppliers, and customers
- Determine whom to trust, and how much
- Reduce the unwanted effects of irrational action by noticing patterns that don't appear logical-but are utterly predictable
- Overcome the human trend to game the machine
- Profit from motives beyond money
