HOW BEHAVIORAL ECONOMIC METHOD EXPLAINS AND PREDICTS

HOW BEHAVIORAL ECONOMIC METHOD EXPLAINS AND PREDICTS
Title HOW BEHAVIORAL ECONOMIC METHOD EXPLAINS AND PREDICTS PDF eBook
Author JOHNNY. LOK
Publisher
Pages
Release 2019
Genre
ISBN 9781097438396

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Behaviour Economics Prediction Method and

Behaviour Economics Prediction Method and
Title Behaviour Economics Prediction Method and PDF eBook
Author Johnny C. H. Lok
Publisher Createspace Independent Publishing Platform
Pages 96
Release 2018-01-05
Genre
ISBN 9781983594595

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In my book, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain behavioral economic principles of policy makers or decision makers as well as I shall also analyze whether behavioral economy and psychology which has close relationship. I shall indicate underground train and Disney entertainment theme park and University etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. This book is suitable to any economists or policy makers or individual consumption makers or students or working people who have interest learn how to apply behavioural economy to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.

Misbehaving: The Making of Behavioral Economics

Misbehaving: The Making of Behavioral Economics
Title Misbehaving: The Making of Behavioral Economics PDF eBook
Author Richard H. Thaler
Publisher W. W. Norton & Company
Pages 502
Release 2015-05-11
Genre Business & Economics
ISBN 0393246779

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Winner of the Nobel Prize in Economics Get ready to change the way you think about economics. Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining. Shortlisted for the Financial Times & McKinsey Business Book of the Year Award

Judgement the Difference Between Behavioral Economy and Psychological Methods

Judgement the Difference Between Behavioral Economy and Psychological Methods
Title Judgement the Difference Between Behavioral Economy and Psychological Methods PDF eBook
Author Johnny Ch LOK
Publisher
Pages 519
Release 2017-07-30
Genre
ISBN 9781521973431

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This book concerns how to apply psychological and economic behavioral methods to predict customeremotion. The first part concerns to how to apply psychological method to predict consumer emotion. The second part concerns to explain what behavioral economy means and how to apply behavioral economic method to predict consumer behavior. The first part concerns how to apply psychological method to predict how to manufacture the right food taste to let your consumers to like to eat your food as well as how to produce or design your products to sell to them successfully. I shall use three science and psychology ethnographic research and facial reading technology and online consumption behavioral methods to explain how to predict your client's individual taste and need more accurate.The second part concerns how to explain what behavioral economy means and how to apply behavioral economy method to predict consumer behavior. Behavioral economics can provide more realistic psychological foundations. This part is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision. In second part, it shall indicate how the process of behavioral economic field develops, then I shall show what methods are used to measure behavioral economy. Next, I shall indicate what the main two categories of behavioral economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close relationship to influence consumption of decision. It aims to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model. First part concerns how to apply psychological method to predict consumer behavior. The first section, I shall indicate how to use face reading technology predicts consumer emotion to predict how to do the acceptable to produce foods to let them to feel more enjoyable to eat sweet foods or drink softdrinking as well as how to use video camera to investigate to predict customer emotion to find what factors had attracted them to choose to buy the manufacturers' products to use and judge whether how to increase your product more attractive to win your competitors.Finally, in part three, I shall explain why to apply either behavioral economy or psychological method to predict as above sample cases which is more suitable to predict consumer behavior. I wrote this book for several reasons. I want to give my opinions to let businessmen to know how to apply psychological method or behavioral economic method to predict consumer behavior. Psychological method prediction is concentrated on consumer individual emotion, such as between salespeople and customers contact in one shop. Otherwise, behavioral economic method prediction is concentrated on serving consumers in public service industry, e.g. education, transportation, entertainment etc. public service businesses.

Behavioral Economic Method Predicts Consumer And Employee Behavior

Behavioral Economic Method Predicts Consumer And Employee Behavior
Title Behavioral Economic Method Predicts Consumer And Employee Behavior PDF eBook
Author Johnny Ch Lok
Publisher
Pages 408
Release 2019-09-24
Genre
ISBN 9781695362888

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I shall give reasons to explain as below: As Jim, P. & Brendan. M. (2013) indicated who had ever been experiencing failure to do their businesses. Although, they had lost a million dollars, but they felt that they can be taught to learn undiscovered knowledge to know how to do their businesses successful by their wrong judgement and decision learning experience. They explained that " in ll risk taking, speculation, business ventures, entrepreneurial activities, it is the loss side on which you must focus first. This is even true for gambling, the gambler determines how much he's willing to bet, and loss, before the game is played. He doesn't wait for the game to end and then let the croupier or dealer assign his wager for him. How do you determine the downside, and how do you control or minimize it? With objective decision making and a plan that has as its starting point the stop-loss parameters"Hence, it explains any business will have under-level productive efficiencies and low consumption desire business risk. However, to any one entrepreneur, who needs to know it is one game between the himself/herself and whose clients. They also need to know with objective decision making and a plan that has as its starting point. Hence, I assume that if the entrepreneur has wrong decision to cause under-level productive efficiency, it is possible that, due to there is no enough employee number to manufacture the product or many employees are not skillful to manufacture all product in normal time or many employees are lazy etc. different factors to cause under-level productivities. However, when they discover their productivities are very low to compare similar competitors their employees' productivities and efficiencies. Then, they can attempt to find what factor(s) to cause low productivities and low efficiencies. it is possible that any one among of these factors case. They include many employees' lazy to influence low productivities or there is no enough employee number or many employees are not skillful to manufacture their products in production process. Hence, wrong decision or plan is not represent failure. Otherwise, it can give chance to let the entrepreneur to learn whether what the factor(s) is (are) to cause low productivities and low efficiencies in whose product manufacturing process.

Behavioral Economy Methods Predict Consumer Behaviors

Behavioral Economy Methods Predict Consumer Behaviors
Title Behavioral Economy Methods Predict Consumer Behaviors PDF eBook
Author Johnny Ch LOK
Publisher
Pages 318
Release 2018-04-23
Genre
ISBN 9781980912613

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Preface This book is concerned how to apply behavioral economy method to predict consumer behavior. Also I shall compare to explain what advantages and disadvantages between any one of my solvable suggestions and the any one of the company's choice of solvable method to these any one sample industry consumer behavioral economic challenges to aim to let any reader to judge whether how to choose the solvable method is better. In, conclusion, this book can provide sample industries to let students to learn how to behavioral economy method to predict consumer behaviors. In Behavioral economics part , it can provide more realistic psychological foundations. This book is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision. It divides part one and part two In part one, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close relationship to influence consumption of decision. In part two, I shall indicate Disney entertainment theme park and university education industry and airline travel industry and underground train transportation tool and environmental protection product five industries to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. Thus, if company or individual businessman can predict labour psychology or client psychologic consumption behavior. Then, which can have more confidence to attract more clients or reduce labour turnover. This book is suitable to any economists or policy makers or individual consumption makers or students or businessmen who have interest to learn how to apply behavioural economy methods to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.

Behavioral Economic Method Explains And Predicts

Behavioral Economic Method Explains And Predicts
Title Behavioral Economic Method Explains And Predicts PDF eBook
Author Johnny Ch Lok
Publisher
Pages 392
Release 2019-06-15
Genre
ISBN 9781074081201

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I shall indicate how to apply different behavioral economy methods to raise stable basic stable income target consumer group consumption desire in these different consumption situation ( consumption environment) aspects as below:1.Stable basic stable income consumer group consumption great or small amount desireThe consumption of products and services is a fundamental part of consumer's welfare. Basically, every one who has stable basic stable income, who will like to consume any products and services. Even, consumption great or small amount desire won't be depended on whether the person whose income is more or less. It means low income level of people will still like to consume great amount to buy expensive products or consume expensive services, because consumption is human's part of life and basic needs. This stable basic income people will like to consume, because they have stable income source when they do not worry about unemployment occurrence to cause them have no enough money to support their life. Otherwise, non-stable basic stable income people won't like to consume because they feel they have no stable basic income source to support their life and they will worry about unemployment occurrence any time. Hence, stable basic income people will have more consumption desire to compare non-stable basic stable income people in any countries usually. Behavioral economic method indicates they feel their economic benefits will be loss if they planned to buy any products or consume any services easily. So, they prefer to save money in bank more than consumption.1.Demand systems and micro-economic factor influence basic income people consumption attitudeWhy stable basic income people will like to consume?