Tag: Behavioral Economics

Another Victory for the Behavioral Economists | Energy Institute Blog

Another Victory for the Behavioral Economists | Energy Institute Blog

Consumers Do Reduce Consumption When the Price Goes Up The first result in the paper validates our basic Econ 1 models. During the event windows, the customers in the treated group consumed on average 12 percent less than the customers in the control group. So, higher prices imply less consumption. Check. It’s also interesting to […]

Match Group’s Tinder emerges as cash cow courtesy of data science, dynamic pricing, paying off tech debt | ZDNet

Match Group’s Tinder emerges as cash cow courtesy of data science, dynamic pricing, paying off tech debt | ZDNet

The more interesting development will be seeing how Tinder uses artificial intelligence to drive matches as well as monetization and revenue growth. Tinder has been building its data science team and added Dr. Xue Liu, a computer science professor at McGill University, as its chief scientist. Tinder is also adding analytics and data science talent […]

Pricing Your Product: Part Art & Part Science | Intelligence Node

Pricing Your Product: Part Art & Part Science | Intelligence Node

Pricing. It’s that enigmatic element of any business that’s sure to keep executives up at night and constantly second-guessing themselves. Fire up a Google search or read any business advice book, and you’re bound to come across a bazillion different pricing strategies, all of which are purported to be an instant shot in the arm […]

Pricer’s Points: Buying A Big House Comes With Big Hidden Costs | Anastasia Ivanov

Pricer’s Points: Buying A Big House Comes With Big Hidden Costs | Anastasia Ivanov

You have to consider all the angles before buying a home. While owning big beautiful home might be your dream, the cost of owning one over 30 years can quickly turn it into a nightmare. It’s important not to let short-term decisions impact long-term financial goals like retiring early or saving for your child’s education. […]

Amazon shoppers prioritize price and shipping when deciding whether to buy | internet RETAILER

Amazon shoppers prioritize price and shipping when deciding whether to buy | internet RETAILER

Data from CPC Strategy shows more than half of shoppers will check prices elsewhere and not just turn to Amazon. Amazon.com Inc. shoppers care about price and shipping, and they will compare what other retailers offer before deciding whether to complete a purchase, according to a new report from digital marketing agency CPC Strategy. CPC’s […]

Bottom Dollar Effect And Financial Advisor Business Models | Nerd’s Eye View

Bottom Dollar Effect And Financial Advisor Business Models | Nerd’s Eye View

EXECUTIVE SUMMARY As financial advisors, we’re well aware that behavioral biases influence our clients’ decision making. However, it’s sometimes easy to forget that biases influence the consumption of financial planning services as well, which may have an impact on client satisfaction, retention, and our ability to grow and sustain our business. In this guest post, Derek […]

Pricing: Science Tells Us When, and How Often, Sales Reps Should Talk About It. | Gong

Pricing: Science Tells Us When, and How Often, Sales Reps Should Talk About It. | Gong

What analyzing 25,537 sales calls using AI tells us about pricing discussions during sales calls In Gong’s conversation science research series, we’re revealing what we’ve discovered from analyzing massive amounts of recorded B2B sales conversations using AI, speech-to-text, and machine learning technology. For more information on how we conduct this sales conversation data analysis, check […]

Business-to-Business (B2B) Pricing Strategy Research – Part 1 | Business2Community

Business-to-Business (B2B) Pricing Strategy Research – Part 1 | Business2Community

When developing the optimum pricing strategy in business-to-business (B2B) markets, it’s essential to have insights into how the market is likely to react when a product or service is sold at different price points. That’s where market research comes in. It informs pricing strategy by revealing likely levels of demand, revenue and profitability under different […]

Why we decided to remove prices from OLIO | OLIO

Why we decided to remove prices from OLIO | OLIO

It is with *great* excitement that we’re writing to share an important decision that we’ve taken – which is to remove all pricing from the OLIO app, effective immediately . When we first launched OLIO it was for food sharing only, and so we allowed people to add a price if they wished. We figured if adding a price […]

Using Behavioural Economics and Dynamic Pricing With Your Products | MindTheProduct

Using Behavioural Economics and Dynamic Pricing With Your Products | MindTheProduct

In this talk from ProductTank London, James Routledge shares great examples of how any products price can be dynamic when we look at it strategically. Understanding the behavioral economic principles and seasonality are invaluable factors in running pricing experiments which will help us to develop a strong and efficient pricing strategy. Behavioral economics and pricing […]