The leading question
Behavioral economics is revealing surprising new understandings of consumers. What should managers know?Findings
- Offering customers too many choices can easily confuse them, but sometimes a product monopoly can also be confusing.
- If managers want to hire the best people in the future, they must be willing to hire candidates whom they think will fail.
- To increase an employee’s motivation, give him a vacation to the Bahamas instead of the cash equivalent of the trip.
Ariely’s insights should make executives think twice about the wisdom of the decisions they regularly make — as well as the inner processes they rely... To read the complete article, login or sign-up using the form below.
Register or login to read this article.
Register for free and read this article now.
Already have online access? Login below.
Do you subscribe the MIT Sloan Management Review in print? Enter the email address and password you used when ordering. Don't remember? Lookup your subscription account information
- Register for free access to recent articles and the current issue of MIT Sloan Management Review.
- Subscribe and read articles from the past three years online.
- Premium subscription give you access to the entire archive of articles.
