How to activate your brain's superpowers.
Verified by Psychology Today
From consumer marketing to organizational behavior and much more.
Utpal Dholakia Ph.D.
Understanding the range of prices for the product & one’s own valuation of it can reap rewards.
Despite the significant benefits of cryptocurrency, early consumer adoption is in gambling, selective real-estate, and other niche areas.
The answer lies in three levels of selection that occurs during the immigration process to the United States.
Treat financial challenges as a chronic condition. Pay sustained attention, make steady progress, form habits, revise your targets, & bounce back from setbacks.
Provide information of value to the audience, make specific, verifiable claims, and signal competence.
Driven by buyers' need for consistency and explanation, the most popular pricing method uses a surprisingly simple formula based on size.
For a short-lived motivation boost when you're flagging, bragging strategically will help.
The distinction matters because it helps pinpoint the best approach to deal with the problem.
Bragging is the most efficient way to convey a positive image to our constantly expanding social circles.
Three methods help find a fair price that pleases both buyer and seller.
When we make things, we tend to consume them more mindfully and it supports our well-being.
Each price ending number has a unique symbolic value and affects beliefs of shoppers about the product and the seller.
Experiences can be mundane and unpleasant, & sometimes saving the money is more important for future welfare.
The reflection method provides a promising way of mentally “shopping the closet” and our findings show it quells the desire to buy.
By targeting a basic motive, sellers can influence which item customers choose and how much they pay.
Each method provides a research-supported way to empower you and improve your financial situation.
Research suggests setting an emergency fund goal, saving every day, & making saved money visible.
Taking such positions alienates many employees and customers and shifts focus away from the main objectives.
Boast posts of professional accomplishments on social media have negative repercussions.
Price has informational value that equates high price with high quality, and low price with questionable quality.
The headline obscures the fact that the actual numbers involved are very small.
Not with anger or scorn, but in a more nuanced manner.
Changing a bad habit or forming a new, virtuous one, requires advance preparation and trial and error.
Financial well-being research focuses on security and stress-relief, but not on contentment or joy that we get from money.
Every one of us can learn valuable lessons from the generosity and compassion of the poor.
Participants in automatic retirement savings plans are saving at rates far less than the recommended percentages.
The answer depends on whether the manager subscribes to a deontological or teleological ethical perspective.
Lawful yet unethical behaviors of customers can have positive effects and it raises interesting questions.
The empathy of bystanders peaks quickly, and within a few weeks, it has abated to baseline levels.
Giving cash, staggering donations, and vetting the charities you give to will ensure your donation has a greater impact.
Utpal M. Dholakia, Ph.D., is the George R. Brown Professor of Marketing at Rice University.