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Behavioral Economics: Nudging to Shape Decisions

May 17, 2022
100% online with live sessions
8 weeks, 3-5 hrs/week
Devin G. Pope
USD $2,800
English, Portuguese, and Spanish
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Program Overview:
Behavioral Economics: Nudging to Shape Decisions

Organizations around the globe are increasingly using “nudge thinking” to help customers make more efficient decisions. Nudging means applying insights from the field of behavioral science to design policy, create change, and build a customer-centric approach to strategy. When these insights are applied to management, leaders discover new ways to drive enterprise value, improve product and service design, and help stakeholders make better choices.

This program provides the tools to leverage insights from behavioral economics to improve economic, policy, and management decision outcomes. Participants will discover the benefits of a well-designed choice architecture structure and explore the role biases, fallacies, and heuristics play in decision-making.

It further combines academic theory and business knowledge with practical, real-world applications. Through a highly interactive learning environment, you’ll learn how to use data intelligence to better predict outcomes and practically apply behavioral insights to your organization.

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Program Takeaways

  • Learn how to design products and services that create more value for customers.
  • Discover the emotional and cognitive underpinnings of economic behavior changes and how professionals make decisions.
  • Explore hidden biases and heuristics that either reinforce or counteract outcomes.
  • Discover how “choice architecture” may optimize decisions to benefit economic, regulatory, and policy-creation strategies.
  • Gain the frameworks to draw actionable insights from data intelligence to improve customer experiences and engagement.
  • Discover the tools to optimize your value proposition for greater influence and impact.
  • Increase management decision outcomes that result in improved enterprise-wide efficiencies and processes.

Devin G. Pope

Steven G. Rothmeier Professor of Behavioral Science and Economics, Chicago Booth

Devin Pope studies a variety of topics at the intersection of economics and psychology. He has published work in prestigious journals such as the American Economic Review, the Quarterly Journal of Economics, the Journal of Political Economy, and the Review of Economic Studies. His work has also been featured in publications devoted to psychology and multidisciplinary matters, including Management Science and Psychological Science.

Using primarily observational data, Pope studies how psychological biases play out in field settings and economic markets. Examples include left-digit bias and projection bias in car markets and time inconsistency in housing markets.

Prior to joining the Chicago Booth faculty in 2010, Pope was on the faculty at the Wharton School at the University of Pennsylvania. He earned a PhD in economics from UC Berkeley in 2007 and a BA in economics from Brigham Young University in 2002.

Who Should Enroll in
Behavioral Economics: Nudging to Shape Decisions

This program is designed for mid-senior level executives from around the globe who are responsible for making impactful and efficient economic decisions for their organizations. Those tasked with presenting choices to clients, customers, and key stakeholders (choice architects) will benefit from this program.

In addition, professionals in the fields of finance, marketing, sales, business development, healthcare, market research, consulting, policy, and entrepreneurship will find this program beneficial.

By exploring the “why” behind our decision-making and understanding the core principles of behavioral economics, organizations will gain a major competitive advantage. This program can be applied to multiple industries, including healthcare, utilities, insurance, banking, retail, and manufacturing, as well as nonprofit organizations and government agencies.

Why Booth?

  • You will learn from one of the most highly regarded faculty of any business school in the world. As part of the University of Chicago, which is home to an extraordinary 92 Nobel laureates, Chicago Booth has nine faculty members who have won the Nobel Prize in Economic Sciences.
  • Chicago Booth’s multidisciplinary approach to education gives you the analytical frameworks for unlocking solutions to complex problems. You’ll be encouraged to take risks, share your ideas, embrace diverse perspectives, and define your individual path to success.
  • At Booth, empirical evidence (real-world data) and analysis are paramount. A diverse array of analytical and behavioral frameworks gives participants the ability to visualize compelling new business solutions.
  • Upon completion of the program, you will receive a Certificate of Completion from Chicago Booth Executive Education. You will also receive a  Digital Badge that serves as a certified online credential of your accomplishment and can be shared among social networks such as LinkedIn.
  • You’ll automatically become a member of the Booth Executive Education community, which will provide you with an opportunity to grow your professional network.

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For more information contact:
The University of Chicago Booth School of Business Executive Education

 

Call us:
+1 312 800 8657

Email us:
execedon@chicagobooth.edu