🍌 The Psychology of Bananas, Selfishness, Decision and Lies
Welcome to our latest newsletter.
In this email, we look at how smartphones make us more self-centred.
At the science that explains why people repeatedly click on a banana.
Why people lie.
And what your decision-making time tells others about you.
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Smartphones: The Selfish Sidekick?
Our smartphones are our constant companions, but are they turning us into a generation of self-absorbed Scrooges?
A recent study suggests that our phones, while undeniably convenient, might be subtly undermining our altruistic tendencies. Researchers found people were less likely to donate to charities when using smartphones compared to PCs. They theorize that smartphones promote a "mobile mindset," where we're hyper-focused on ourselves and our immediate needs. This self-centred state makes it harder to shift our focus outwards and empathize with others, a crucial step for charitable giving, or any purchase which might involve others..
Smartphone experiences should therefore either capitalise on this self-centred mode or incorporate nudges to shift audiences' focus before trying to persuade them. For example:
Make them the hero (but with a twist): Capitalise on the self-focus by positioning your product or service as a tool for self-improvement that also benefits others. For example, a language learning app could highlight how mastering a new language boosts your career prospects while also allowing you to connect with people from different cultures. You satisfy their desire for self-improvement while subtly nudging them to see the broader impact.
Personalize the nudge: Showcase how your product aligns with their existing self-image. Imagine a fitness tracker that analyzes your activity and suggests local community sporting events you could join. It leverages their interest in fitness (self-focus) but gently nudges them towards a more social activity (helping others).
Photo by Kevin Malik
Gone Bananas for Behavioral Economics: Why Clickers Captivate Us
Monkeys aren't the only ones going bananas for this latest craze. Gamers are in a clicking frenzy over a seemingly mindless game called Banana. The objective? It's as simple (and repetitive) as it gets: relentlessly click on a virtual banana to collect virtual rewards.
But beneath the surface lies a fascinating connection to a 300-year-old behavioural economics puzzle – the St. Petersburg paradox.
Imagine a coin toss game with ever-doubling rewards for heads. The paradox? While the potential winnings are infinite, people rarely pay much to play. This highlights the gap between theoretical value and real-world decision-making under uncertainty.
Similar to the paradox, Banana offers minimal investment (just clicks) with the chance of valuable virtual rewards (skins). However, unlike the abstract coin game, Banana's rewards are tangible (skins) and the cost is free (time). This taps into the concept of "diminishing marginal utility" - the idea that the value of money decreases as you gain more. Some players invest time despite diminishing returns, while others don't.
Clicker games like Banana exploit basic human instincts – the thrill of accumulating (even virtual) wealth. They tap into the psychology of risk, value, and decision-making under uncertainty, similar to the St. Petersburg paradox.
Photo by Aleksandar Pasaric
Catching Customers in a Tall Tale? How to Nudge Honesty in Your Interactions
Ever wonder why even the most charming customers sometimes stretch the truth? A new study suggests it's not because they're inherently dishonest.
Customer dishonesty hinges on two factors: social desirability (wanting to appear good in your eyes) and task orientation (being focused on getting what they want). This means a customer might downplay pre-existing damage to trade in an item for a higher price (social desirability at play) or exaggerate a minor issue to get a discount (task orientation in action).
The takeaway for businesses?
Honesty isn't a character flaw, it's a situational choice. By creating a culture of transparency and setting clear expectations from the get-go, you can nudge customers towards honest behaviour.
After all, honesty is always the best policy, but a little nudge in the right direction never hurts. Here are some specific tactics you can use to nudge customers towards honesty:
Highlight shared values. Reminding customers of your commitment to fairness and transparency can prime them to act honestly.
Make honesty the easy option. Streamline your return and exchange policies to remove hurdles for truthful disclosure.
Be mindful of incentives. Avoid creating situations where customers feel they have to bend the truth to get a good deal.
By understanding the reasons behind customer dishonesty, you can employ these science-backed tactics to promote honest interactions and build stronger customer relationships.
Photo by Dmitriy Ganin
Can You Hear Me Thinking? The Science of Decision Time in Social Settings
Ever wondered if your deliberation time gives away your secrets? A new study in Nature Human Behaviour suggests it might.
Researchers used the Dictator Game, where one player decides how much money to split with another, to show that observers can infer social preferences based on decision speed. Those who took longer to decide were seen as more generous. So, next time you're in a negotiation, remember: silence might be golden, but speedy decisions could telegraph a tougher stance.
This finding has far-reaching implications for business.
In auctions, for instance, a bidder's extended mulling could signal a higher willingness to pay. Conversely, a snap decision might suggest they're nearing their limit. By understanding the language of deliberation time, businesses can gain valuable insights into customer preferences and adjust their strategies accordingly.
Photo by Marcelo Chagas
As ever, if there's anything we can help with, do get in touch.
James, Patrick and Dan
We practically apply the science of the human mind for hard, commercial results
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