Abstract:

Survey design has been slow to respond to the key lessons from Behavioral Economics that we often act first, then rationalize our action. The presenters hypothesized that replacing survey methods that assumed rationality with methods that accommodated 'predictably irrational' behavior would lead to greater accuracy. Accordingly, a best-in-class traditional approach (monadic) was tested against a discrete-choice exercise with a naturalistic user interface, as well as more natural alternatives to the traditional 'none of the above' Across four CPG categories, the techniques inspired by Behavioral Economics better predicted actual market volumes than traditional techniques.