Behavioral economics / behavioral finance that influence how people behave

  In this discussion, we look at aspects of behavioral economics / behavioral finance that influence how people behave – and how businesses and other organizations (e.g., political parties) use predictable behavioral biases among people. In business, the science of Business Analytics actively uses data for target groups (e.g., consumers) to formulate and implement strategies to increase revenues and profits. Business analytics has become a standard tool in business, but it is sometimes controversial because of the related issues of privacy and ethics. There are pros and cons: business analytics has benefits such as matching advertising to the unique preferences of individuals or target groups, but some people consider it invasive. Let’s watch the video called “Hacking Your Mind”, which looks at behavioral economics and how so-called “big data” can be used in business analytics.