Jan 7, 2016
Leigh Caldwell is a behavioural economist based in London.
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 research techniques.
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 satisfaction.
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 economics.
- why finding the sweet-spot between controlled experiments and realism is difficult yet important.
- why mathematics is essential for theorising and modelling economics, especially behavioural economics.
- 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 economics.
- 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.
- and much, much more.
- Check out the show notes page for all links and resources mentioned by Leigh in this episode at www.economicrockstar.com/leigh
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