Globally irrational, locally rational?

Date of publication: June 15, 2015

Author: Elina Halonen


Behavioral economics(BE) has been a big trend in market research and as it spreads across the globe, we need to consider whether we're as irrational as we seem to be. Insights from BE are often portrayed as universal human tendencies despite the fact that 96% of all psychology research is based on populations in mostly Western countries. Because of this, experts like Dan Ariely suggest that the biggest challenge for the academic field is understanding how theories work across different cultural contexts. If culture influences how people think, can we use BE the same way in Asia? How do we localise BE? To apply BE efficiently we need to be aware of all factors that could influence the decision making process. This masterclass will help delegates adapt applications of BE into the Asian context.

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