"The unabridged, downloadable audiobook edition of Kay-Yut Chen and Marina Krakovsky's practical guide, Secrets of the Moneylab: How Understanding People Will Increase Your Profits, read by the actor Matt Addis.
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.
Publshed as part of the Penguin Portfolio series of business audiobooks."
"Taking behavioral economics from the cocktail party to the boardroom, with dramatic results
Books like Predictably Irrational and Nudge have brought behavioral economics into the mainstream. But while we all marvel at how different-and weird-real people behave compared to the 'rational actors' of traditional economics, in the end we go back to business as usual. After all, what do a few laboratory experiments have to do with making a buck?
As economist Kay-Yut Chen has shown, quite a bit. Chen started behavioral economics research at Hewlett-Packard, founding the first such 'moneylab' at any company, let alone one in the Fortune 500. His groundbreaking research into human behavior has led to tangible results for HP. In fact, he has saved the company millions of dollars by showing how changing the right conditions can make people behave very differently.
Secrets of the Moneylab offers practical lessons being put to use right now at HP and other leading companies. It explains, for instance, how to:
* Use incentives to influence employees, suppliers, and buyers.
* Determine whom to trust, and how much.
* Reduce the negative effects of irrational behavior by noticing patterns that don't seem logical-but are utterly predictable.
* Overcome the human tendency to game the system.
* Profit from motives beyond money.
Chen and science writer Marina Krakovsky reveal in plain English how to translate the counterintuitive findings of behavioral economics into concrete action steps for businesses of any size. Secrets of the Moneylab shows how tackling your real-world problems like a scientist can open up entirely new realms of possibility and profit."
