June 18, 2014
Behavioral Economist on Using the Insights of Irrationality
Building Great Products
Behavioral economists provide a framework to understand when and how people make errors. As product managers, how do you use insights of irrationality to build great products? As a result, today we have an overflow of user data and web analytics to help us understand what is going on in our products. From drag and drop testing tools and the Agile project structure to support uncertainty—there’s no limit to what we can uncover. Finally, Behavioral economics traces these decision errors to the design of the human mind.
There’s only one thing left to determine. What do we actually want to test? In sum, the basic message of behavioral economics is that humans are hard wired to make judgment errors and they need a nudge to make decisions that are in their own best interest. Most of all, the understanding of where people go wrong can help people go right. Co-founder of Dan Ariely’s Irrational Labs, Kristen Berman is our host. Kristen will share real-life examples of using behavioral economics to build great products.
About the Speaker
Kristen Berman founded Irrational Labs with Dan Ariely to help companies understand and leverage behavioral economics. Behavioral economics is the study of how and why people make the decisions they do. Kristen leads engagements with companies (Google, Netflix, Fidelity, Lyft). She helps to design, test, and scale products that use behavioral economics. She experienced the need for behavior sciences in product development and marketing while at Intuit and Lytro.