Decision Sciences | Behavioral Economics

  • BLOG
  • July 31st, 2019

We at Mu Sigma believe that as organizations start maturing in Decision Sciences, behavioral economics will gain traction as a tool for improved decision making

There are two major reasons why this is more or less inevitable:

Companies are finally beginning to recognize that people (i.e. their customers) are not the utility-maximizing, rational agents but are usually driven by a complex set of intrinsic and extrinsic motivators. Any business decision that does not factor this fundamental fact about the customer is at best, sub-optimal.