The limits of behavioural economics: What brands can learn from the public sector's experience
Colin StrongGfK NOP Business & Technology
Behavioural economics as a discipline has generated enormous interest in academia, the commercial world and in public policy – not least in the British government. But there are limitations that need to be understood and the public sector experience can provide useful lessons for brands.
The British government has had a love affair with behavioural economics for some time, primarily as a means of closing the 'jaws of doom' – the gap between the predicted demand for public services...