Behavioral Pricing gets the Nobel Prize!

To all innovative leaders out there who have been trying to persuade your CEO to believe in the spectacular benefits of behavioral pricing, congratulations, your initiative should get a big boost with today’s recognition of Richard Thaler, one of the fathers of Behavioral Economics, as the 2017 Nobel Prize Laureate.

When I organized the first Innovation and Monetization Summit in North America, in February last year, there were still too many companies who had never heard of it. here is the advice I gave to the 150 attendees: If you and your team want a clear introduction then read “The Last Mile” by Professor Dilip Soman (one of the speakers at my conference). If you want to focus on the psychological implications, grab “Nudge” by Richard Thaler. If you want to collect dozens of fascinating stories, then go no further than “Payoff” and “Predictably Irrational” by Dan Ariely. However no practical book has yet been published on the emerging and more specific area of behavioral pricing… You can start to find consultants on the B2C side of it, where it started. The experts of B2B Behavioral Pricing are few and far between. too bad because that is where the biggest potential is…

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