Behavioural economics – the hot topic!
Integrating Choice Architecture into the Information Architecture! Behavioural Economics is the hot topic of conversation within agencies specialising in above the line and below the line activities for both public and private sector clients. Cass Sunstein and Richard Thaler’s best selling book “Nudge” has been at the centre of conversations within agencies with strategists asking the question – “how can I integrate this into my work”. Sunstein & Thaler provided the Obama campaign team with white papers on messaging, fundraising and rumour control which were ultimately used to mobilise the huge groundswell of support that carried Obama past the post and into history as the first African American president. So what exactly is Behavioural Economics? As a theory, Behavioural Economics blends insights from psychology with classic economic theory to better understand consumers’ economic decisions. By understanding this it becomes possible to create the right environment or choice ...