Jan 7, 2016
Caldwell is a behavioural economist based in
Leigh, together with Elina Halonen,
runs the Irrational Agency, which takes
the latest scientific discoveries in psychology and behavioural
economics, blends it with their hands-on experience of marketing
and business, and turns them into powerful, incisive market
In 2012, Leigh condensed his
experience in pricing and the marketing of several of his
businesses into a new book The Psychology of Price: How to use
price to increase demand, profit and customer
Leigh is co-founder of the
London Behavioural Economics Network, writes for the
Pricing Revolution and the Knowing and Making
blogs, and regularly features as an economics commentator on BBC
News, Radio 4, Research Magazine and other media.
In this episode, you will learn:
- the importance of academics and
practitioners working together to further the discipline of
- why finding the sweet-spot between
controlled experiments and realism is difficult yet
- why mathematics is essential for
theorising and modelling economics, especially behavioural
- why a lack of mathematics is
holding back the discipline of behavioral economics.
- why we shouldn’t use the current
maths of economics to explain human behavior.
- about the need to use the
mathematics of computer science in behavioral
- whether big data could influence an
individuals' consumption behaviors.
- what cognitive economics is and how
different it is the behavioral economics.
- about the paradox of self-awareness
in cognitive economics when faced with choices.
- Subscribe on iTunes and never miss an episode and I would
love if you could leave an honest rating and review. This helps the
show reach a wider audience.