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Publication Name: Knowing and Making

Brief description: A blog about cognitive and behavioural economics. Building mathematical models of how psychology influences economic systems.

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Owner Name: Leigh Caldwell

Joined: August 20th, 2011

Activity

Knowing and Making wrote a new blog post titled What is cognitive economics?

What's happening inside your head right now? What thoughts, feelings, ideas are spinning around in there? Are they important to you? If you were not able to think those thoughts, would you care? How much does your internal mental experience matter to you? To an economist: not at all. Traditional economics explicitly rules out any consideration of how people think, and what is going on in their minds or hearts. Economists only trust what they can observe: specifically, the things you buy and...
(47 days ago)

Knowing and Making wrote a new blog post titled Why endings matter [spoiler-free Game of Thrones references]

It probably has not escaped your notice that the Game of Thrones TV series finished this week. If you use social media at all, I suspect you also saw some anguished squawks about how awful the ending was. How the incompetent writers screwed it all up. Maybe you even signed the petition, along with 1.5 million others, to have the last series remade with a different conclusion. Personally I thought it wasn't a bad outcome, but I seem to be in the minority. Either way, why does this have such...
(52 days ago)

Knowing and Making wrote a new blog post titled Reporting back: the Cognitive Economics session at the AEA conference

[Tara posting today] We had a great response to our Cognitive Economics session at the American Economic Association’s conference a few weeks ago. For those who weren’t there, here’s a quick summary of the four papers presented, and the discussion at the end. Dan Benjamin, Kristen Cooper, Ori Heffetz, and Miles Kimball presented What Do People Want? The key question of this paper is: how can we measure happiness? And how do we account for the biases and differences across different groups...
(78 days ago)

About:

This blog is about cognitive and behavioural economics. It discusses their impact on economic theory, and how to apply them in business, especially in pricing and marketing. It also explores how our perceptions and mental models affect the macroeconomy.

It is written by Leigh Caldwell (email me at leigh@inon.com).

My other blog is Pricing Revolution, specifically around innovative pricing models and advice on how businesses can set their prices.

As well as writing this blog, I am chief executive of Inon Pricing Advisers - which uses behavioural economics and psychology research to help companies charge the right prices for their products. Please click through to find out more.

I am also founder of think tank Intellectual Business which publishes research and policy papers on how ideas from economics can be used in business and in the public sector.