Behavioural Science can help us understand the decision making behind risk-taking and gambling – it's not as rational as you may expect!
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One of the key learnings from behavioural psychology is how the way choices are presented can have a big impact on behavioural outcomes. It is not always what customers think and feel around your brand that shapes outcomes.
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So what exactly is a nudge? We like to think of it as any marketing action built around one of the short-cuts people use in everyday decision making. Behavioural science has identified well over a hundred of these short-cuts, so it can get all very messy very quickly. Today, however, we will introduce you to just one – Loss Aversion.
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