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If behavioural economists are so good at predicting human behaviour, why aren’t they popular among consumer facing companies? Why don’t such companies have a sp

If behavioural economists are so good at predicting human behaviour, why aren’t they popular among consumer facing companies? Why don’t such companies have a special position for behaviourial evonomists? Why none of the behaviourial Economists have ever tried starting up?

haskellandchill 8y ago
Some companies do. AirBnB had an economist at one point I recall.
myth_buster 8y ago
Your assumption _why aren’t they popular among consumer facing companies_ is incorrect. Almost all UX and product development takes into consideration. Ex: gamification, pricing, freemium model etc.
jcutrell 8y ago
To be honest, this is kind of my hope for a future job. I've wanted to practice behavior economics meets technological innovation for a long time now - but you're right, there doesn't seem to be a demand for this.
- Ironchefpython 8y ago
  > but you're right, there doesn't seem to be a demand for this You mean outside the entire advertising industry? Now you might argue that advertising companies are more focused on selling ads to clients than optimizing the ad experience for victims, but it's an entire sector of the economy focused on exploiting the poor decision-making abilities of humans.
  - jcutrell 8y ago
    Yes, I think the lack of demand is for non-exploitative roles. Of course, as long as we have had enough understanding that we can affect others, there has been a demand for exploitation through bias. I think the hope here is that we would create positions that allow BE to benefit others AND businesses by helping people make better decisions. It sounds a bit utopian, but it's certainly not impossible that everyone could benefit from people making decisions that are beneficial to their well-being.
throwawayjava 8y ago
> If behavioural economists are so good at predicting human behaviour, why aren’t they popular among consumer facing companies? For the exact same reason that most software companies don't have a Computer Science Ph.D. on staff. Many companies don't need a high-caliber research department. People who learn and understand how to apply ideas and theories from behavioral economics in biz and econ courses are well-represented in sales and marketing roles. Just like people who learn and understand how to apply ideas and theories from Computer Science in CS courses are well-represented in engineering roles. > why none of the behaviourial Economists have ever tried starting up? I'm sure many have lucrative consulting portfolios, but generally speaking: because they already have a pretty cushy and very well-paying job doing what they love.
thousandautumns 8y ago
They are. The companies I’ve worked at have all employed behavioral economists, and they have all ramped up their head count over time.

haskellandchill 8y ago

Some companies do. AirBnB had an economist at one point I recall.

myth_buster 8y ago

Your assumption _why aren’t they popular among consumer facing companies_ is incorrect. Almost all UX and product development takes into consideration. Ex: gamification, pricing, freemium model etc.

jcutrell 8y ago

To be honest, this is kind of my hope for a future job. I've wanted to practice behavior economics meets technological innovation for a long time now - but you're right, there doesn't seem to be a demand for this.

Ironchefpython 8y ago
> but you're right, there doesn't seem to be a demand for this You mean outside the entire advertising industry? Now you might argue that advertising companies are more focused on selling ads to clients than optimizing the ad experience for victims, but it's an entire sector of the economy focused on exploiting the poor decision-making abilities of humans.
- jcutrell 8y ago
  Yes, I think the lack of demand is for non-exploitative roles. Of course, as long as we have had enough understanding that we can affect others, there has been a demand for exploitation through bias. I think the hope here is that we would create positions that allow BE to benefit others AND businesses by helping people make better decisions. It sounds a bit utopian, but it's certainly not impossible that everyone could benefit from people making decisions that are beneficial to their well-being.

throwawayjava 8y ago

> If behavioural economists are so good at predicting human behaviour, why aren’t they popular among consumer facing companies? For the exact same reason that most software companies don't have a Computer Science Ph.D. on staff. Many companies don't need a high-caliber research department. People who learn and understand how to apply ideas and theories from behavioral economics in biz and econ courses are well-represented in sales and marketing roles. Just like people who learn and understand how to apply ideas and theories from Computer Science in CS courses are well-represented in engineering roles. > why none of the behaviourial Economists have ever tried starting up? I'm sure many have lucrative consulting portfolios, but generally speaking: because they already have a pretty cushy and very well-paying job doing what they love.

thousandautumns 8y ago

They are. The companies I’ve worked at have all employed behavioral economists, and they have all ramped up their head count over time.