Want to Manipulate Humans? Try These Hot Buttons
December 3, 2020
Okay, thumb typing marketers, insights from academia. Navigate to “We Are All Behavioral, More or Less: A Taxonomy of Consumer Decision Making.” The write up is available from Dartmouth, home of behavioral economists and psychologists and okay pizza.
The write up is 70 pages in length and chock full of jargon and academic thinking. Nevertheless, the author, one Victor Stango, reveals some suggestive information.
Here are a couple of examples:
Table 3. Correlations among behavioral biases, and between biases and other decision inputs offers insight into pairings of bias factors
Table 5. Rotated 8-factor models and loadings of decision inputs on common factors provides a “look up table” with values to help guide a sales pitch
The list of hot button factors includes:
- Present bias
- Choice type
- Risk biases
- Confidence
- Math bias
- Attention
- Patience vs. risk aversion
- Cognitive skills
- Personality
Net net: Manipulate biases by combining factors. Launch those online marketing campaigns via social media with confidence, p-value lovers.
Stephen E Arnold, December 2, 2020
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