Secrets of the Moneylab: How Understanding People Will Increase Your Profits

(Paperback)

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Description

You loved Freakonomics, Blink and The Black Swan. This book shows you how to take those ideas and make money out of them Sensational books like Freakonomics have shown how human behaviour follows predictable patterns. But how do you take these radical ideas and apply them to your business How do you make money from them Secrets of the Moneylab sets out what business can learn from the findings of the new economics and social psychology. It shows how you can shape desires, use incentives and reduce risks to consistently improve the bottom line. In his experimental lab at Hewlett-Packard, chief economist Kay-Yut Chen is running groundbreaking research into human behaviour. He packs Secrets of the Moneylab with insights into the invisible forces controlling the world of business. These findings, which defy conventional wisdom and traditional economic theory, will help you engineer your business for success.

Reviews

What can playing games in a lab tell us about risk management or compensation plans A lot, as it turns out * Daniel Pink, author of DRIVE and A WHOLE NEW MIND *
Economics at its best * George A Akerlof, Nobel Prize-winning economist *
A brilliant book...a must-read * Teck-Hua Ho, Haas School of Business, Berkeley *
Any smart business needs a 'moneylab' of its own * Ori Brafman, author of Sway and Click *
Of the many books on behavioral economics, none are as effective as Secrets of the Moneylab in applying science to the practical world of business. Read it and be prepared to change your approach * Michael Shermer, publisher of Skeptic and columnist for Scientific American *
An inexpensive tool for avoiding costly mistakes * Charles R. Plott, California Institute of Technology *

Author Bio

Kay-Yut Chen leads Hewlett Packard's experimental economics laboratory - the first such lab at any company - which he established in 1994 after earning his PhD from Caltech. His cutting-edge research has been used across HP; his lab designed the standard contract between Hewlett-Packard and retailers like Wal-mart and Best Buy. His work has been featured in Scientific American, Risk Magazine, Newsweek, The Financial Times, The Wall Street Journal, BusinessWeek.com, and Portfolio.com. Marina Krakovsky is a journalist who writes about the intersection between science and business.