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Monday, 30 November 2015

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Questioning the nature of research


there is a danger that behavioural economics might purely be a flavour of the month or a fad that's gonna outlive its utility soon. I have read his and others' articles and discussions from WPP's pages in the past and he does make a good argument. Unfortunately, I find they stop there because they sound too simplistic to reduce human behaviour to heuristics and when you do this, then everything turns out to be purely academic . (as If these were true we would have had far better predictive abilities.) They blame this lack of predictive abilities... on market research agencies!!!!! I think in one of the WPP senior thought leaders actually lamented the fact that Milward brown (part of WPP) did not provide 'insights' like why do customers stop going to prostitutes when she starts offering her services free or falls in love with him... and this article was on behavioural economics. ..!!!! Luckily most clients of Milward Brown and other insight agencies realise what value they bring to the table.

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6:21 pm