PUTTING BEHAVIORAL ECONOMICS TO WORK BY HELPING ORGANIZATIONS IDENTIFY SMALL CHANGES THAT CREATE SUBSTANTIAL IMPACT
Incentives & Motivation
In some cases, small changes to the incentive structure can have a dramatic impact, positive or negative, on an organization’s goals. Drawing on insights from behavioral economics and psychology, we help organizations evaluate and improve incentive schemes to increase the return on their investment. Understanding how and when incentives work can help companies optimize:
Salesforce incentives
Customer reward programs
Customer engagement and consent rates
Customer loyalty programs
Pricing Strategy
We use simple experimentation and tools from behavioral economics to help organizations increase demand and enhance value. We help companies understand the psychology behind purchase decisions, set optimal prices, and predict customers’ purchase decisions using:
Experimental pricing
Behavioral pricing
Pay-What-You-Want pricing (& other consumer elective pricing schemes)
Effective Philanthropy
What drives donors to pick one charitable cause over another? By testing existing and new fundraising campaigns, we work with charities and non-profits to identify:
Effective fundraising approaches
Effective donor communication
Improving Health & Wellness
How can policy-makers, employers, insurance companies, school teachers, and administrators use behavioral science to improve the health and wellness of their members? Our research shows that small changes to incentives and messaging can have a major impact on healthy behavior and healthy habit formation. We utilize incentives and other principles from behavioral economics to:
Increase the effectiveness of corporate wellness programs
Improve patient outcomes
Fraud Detection and Prevention
Why and when do people feel they can bend the rules? Our research on lies and deception shows that in some cases, simple changes to the environment or messaging can lead to more honest behavior, saving organizations money. We help organizations find behavioral solutions to:
Detect employee and customer fraud
Decrease levels of unethical behavior in organizations