Freakonomics has tried to explain how people respond differently to incentives under different circumstances. In a series of experiments done, researchers have tried to understand how altruism and benevolence of an individual are driven by self interest. Scenario 1: The Ultimatum Game: 10$ to be shared between two individuals where one person decides how much… Continue reading »
Nov
24
Perception vs Attitude
‘Marketing is all about user perception and behavior’. How many of you know what they mean? How does attitude change consumer behavior? Let us take an example: Ravi goes for a drive with his girlfriend Neena at 4 PM. He takes the most untraveled route towards a dense jungle. The road was narrow and curling… Continue reading »
