Taking behavioral economics from your cocktail party to the boardroom, with dramatic benefits

Books like Predictably Irrational and Nudge possess brought behavioral economics into the mainstream. But while we all marvel at how different-and weird-real people behave compared to the ‘rational stars’ of traditional economics, in the end we go back to business as normal. In the end, what execute a few lab experiments have to do with producing a buck?

As economist Kay-Yut Chen shows, quite a bit..Read More about Secrets from the Moneylab: How Behavioral Economics Can Improve YOUR COMPANY Chen started behavioral economics study at Hewlett-Packard, founding the initial such ‘moneylab’ at any company, let alone 1 in the Lot of money 500. His groundbreaking analysis into human behavior has led to tangible results for Horsepower. Actually, he has preserved the company huge amount of money by showing how changing the proper conditions can make people behave extremely differently.

Secrets of the Moneylab gives practical lessons getting put to use right now at Horsepower and other leading companies. It explains, for instance, how exactly to:

* Use incentives to influence employees, suppliers, and purchasers.

* Determine whom to trust, and how much.

* Reduce the negative effects of irrational behavior by noticing patterns that don’t appear logical-but are absolutely predictable.

* Overcome the individual tendency to video game the system.

* Profit from motives beyond cash.

Chen and research article writer Marina Krakovsky reveal in ordinary English how exactly to translate the counterintuitive findings of behavioral economics into concrete action techniques for businesses of any size. Secrets of the Moneylab displays how tackling your real-world complications like a scientist can open up entirely brand-new realms of probability and profit.