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So far Behave4 Team has created 6 blog entries.
Behave4 Team

Peer Effects in Unethical Behavior: Standing or Reputation?

Could the fact of working in a shared space, in the presence of colleagues, affect in-job cheating? Does the way we manage our team influence the team members’ honest/dishonest behavior? At least, you will agree that analyzing this important issue in a work environment could offer critical insights for companies' performance and productivity. Recently, one of our top behavioral economists and co-founder at Behave4, jointly with researchers from MIT, has investigated this topic. Their work shows that working in an unsupervised, isolated situation under competition, can increase dishonest behavior to achieve prestige. [...]

Loss Aversion

Refers to the tendency to value losses more than benefits. Psychologically, the magnitude of the dissatisfaction associated with losing a certain amount, on average across people, doubles the magnitude of the satisfaction linked to earning the same amount. On the one hand, for example, experimentally-measured loss aversion can predict positions within firms: entrepreneurs are less loss averse than managers while both are less loss averse than employees. Companies who want to stimulate “intrapreneurship” as a key factor of innovation should know how loss averse their people are. Behavioral economics methods can [...]

2018-05-25T11:48:05+00:00 May 25th, 2018|Behavioral Topics|0 Comments

Risk Aversion

Refers to the preference for values with low volatility. Risk-averse people tend to prefer outcomes with a reduced level of risk instead of more risky ones, even when the latter are associated with higher profitability (economic or non-economic). Individuals can be classified as risk averse, risk neutral or even risk loving depending on their level of risk aversion. Experiments assessing risk preferences indicate that most people are indeed risk averse, and women tend to be more risk averse than men. Interestingly, for example, experimentally-measured risk preferences can predict employment status: self-employment [...]

2018-05-23T09:07:56+00:00 May 21st, 2018|Behavioral Topics|0 Comments

Behave4 in Harvard University

Behavioral economics has been one of the most developed areas of knowledge within the social sciences. Proof of this is the number of Nobel Prize winners in economics that have been awarded to researchers in this area of knowledge in recent years (i.e. Richard Thaler, Daniel Kahneman, etc). The practical applications in the real world are countless. In fact, many behavioral economics consulting companies have been established in the last decade. However, the vast majority of these companies are dedicated to working on market and customer issues and some of them, [...]

2018-04-13T08:19:45+00:00 April 12th, 2018|Behavioral Assessments, Human Resources|0 Comments

Advantages of Behavioral Economics vs traditional psychometric assessments

We live in "constant-change" times, and this is not different for companies and how to manage their people, the key factor to be successful today and in the future. This context makes that we need a better understanding of how people behave and how we can improve the professional lives of workers. Behavioral Economics brings us a new perspective to increase team and individual performance providing us with really useful tools for HR departments. Nowadays it is possible to systematically assess, for instance, the intertemporal, risk and social preferences of a [...]

2018-04-06T17:40:58+00:00 April 6th, 2018|Behavioral Assessments, Human Resources|1 Comment

Organizations should know their people: a behavioral economics approach

Public and private organizations are increasingly applying behavioral economics methods to a variety of issues such as mechanism design and incentive architecture. However, there has been little focus on how experimental tools used in behavioral economics can help companies learn more about their (current or prospective) workforce and, more specifically, about their employees’ tastes and inclinations. This has important implications for broader organizational performance since some designs/incentives are likely to affect only individuals with a particular disposition (e.g. risk averse or fairness oriented) but not others, or can even have opposite [...]

2018-04-03T13:34:28+00:00 March 14th, 2018|Behavioral Assessments, Human Resources|0 Comments

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