Behavioural Economics is the “new science” of business. It has been described as integrating economics with psychology. Human traits such as limited rationality, social preferences, and lack of self-control, affect individual decisions as well as market outcomes.
Learn what really drives and motivates decisions. This will have the dual impact of improving your decision making and also enabling you to nudge to your preferred outcome.
Overview of the course:
- How do we make decisions?
- Are we really rational or are we influenced by hidden factors?
- Do we make decisions that discount the future correctly?
- How do we avoid irrational decisions?
- How do we avoid having to say “what was I thinking” after the decision?
It explores among other things:
- What influences our decisions and therefore our investments?
- Why don’t we save enough for retirement?
- Why do we over-eat?
- Why don’t we exercise enough?
- Why do we buy stuff we don’t need?
- Why do we lie, and still believe that we are honest?
Some of the topics include:
- What is behavioural economics?
- Applying Behavioural economics to the real world
- How Behavioural economics can boost your bottom line by making better investment decisions
- Are we really in control of our decisions
- The Fallacy of supply and demand, and the decoy effect
- The availability heuristic & the exposure effect
- The cost of zero and the power of “free”
- The context of our character (dis)honesty
- The cost of social norms
- The influence of arousal
- Procrastination and self-control
- Discounting the future
- The high price of ownership
- The power of closing doors
- The expectations effect
- The power of price
- The truth about relativity
David Zidel has over 20 years’ experience in training, facilitation and business coaching. He has an MBA from Wits Business School and is the author of 2 books, “Basic business calculations” and “Life on the run: 18 steps to success.” These books have sold over 10,000 copies each. David won the prize for best part-time lecturer in 2010 & runner up in 2013 at Wits Business School.
David has lectured at many business schools in South Africa, including Duke corporate education, Henley business school, The graduate school of business (UCT), GIBS business school, University of the free state business school and Wits business school (Wits). He has also lectured directly to many top companies in South Africa.
His international experience includes countries such as Ghana, Kenya, Namibia, Nigeria, Mauritius, Mozambique, UK and USA.
- Date: 8 November 2019
- Time: 08:30 — 16:30
- Venue: Johannesburg Business School (Cnr Barry Hertzog and Empire Road, Milpark)
- Facilitator: David Zidel
- Fee: R2 250
- +27 11 559 1783