It turns out that peer pressure might not always be such a bad thing after all, particularly when it causes us to act in beneficial ways. With the economy already affecting consumer spending habits, companies are increasingly looking at the ways behavioral economics can be influenced by public transparency and participation.
Read more...September 15, 2009
February 5, 2009
Shopping: The Pleasure/Pain Principle
Recent studies conducted by researchers at Stanford University and Carnegie Mellon might go a long way in explaining our spending habits or in the case of the current economic downturn, our penny-pinching ways. Apparently, during every purchase we make there is an emotional tug of war taking place in two distinct parts of our brain that determines if we’re going to spend money or not. The study involved imaging shoppers’ brains while they contemplated these decisions. Jonah Lehrer, editor at large for Seed Magazine and author of “How We Decide,” explains:
They discovered that when subjects were first exposed to the [...]
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