Have you ever been lured into purchasing a product because of a big discount, only to find out that the item was actually overpriced to begin with? This is a common tactic used by companies to manipulate consumer behavior and increase their profits. The concept of consumer product discounting has been studied by leading academics such as Marketing Professor Pradeep K. Chintagunta of the University of Chicago Booth School of Business, who has written extensively on the topic. He explains that companies use discounts to create an illusion of savings and manipulate consumer perception of value. Studies have shown that discounts have a psychological impact on consumers, making them more likely to purchase products that they may not have otherwise considered. In fact, a report by Forbes found that discounts are the most effective marketing tool for increasing sales. However, this can come at the expense of the consumer, who may not be getting the best value for their money. For example, companies may use "dynamic pricing" to adjust the price of a product based on demand. This means that prices may be inflated during peak times, and then discounted to create the illusion of a good deal. This can be seen in the travel industry, where prices for flights and hotels can change multiple times a day. Another tactic companies use is "price anchoring", where they display a high original price for a product, or show prices of alternative products, in order to make the product they are trying to sell seem like a better deal. For example, a retailer may list the original price of a shirt as $100, but offer it for a discounted price of $50. Or, a tech company may display the "basic" version of their anti-malware programme at $20/month and "premium" version at $30/month, making the more expensive version seem like a greater deal for an additional $10/month. Consumers may see this as a great deal, even though they may have never considered purchasing the shirt at the full price or the premium version of the anti-malware programme. It's important to be an informed consumer and to do your research before making a purchase. Check the original price of the product and compare it to prices from other retailers to ensure that you're getting the best value for your money.

Charitable donations are a common practice in today's society, but have you ever wondered why we give and how we choose who and how much to give to? The science behind charitable donations is a fascinating and complex topic that encompasses aspects of psychology, sociology, and economics. Let's dive into the world of giving and explore the reasons why we choose to donate and how we make our decisions. First, it's important to understand that giving is not just about altruism. There are many psychological and social factors that play a role in our decision to donate. For example, the principle of reciprocity states that we are more likely to give when we receive, and social comparison theory suggests that we are influenced by the giving behaviors of others. Research has also shown that giving can increase our happiness and well-being, as it activates the pleasure centers in our brain and enhances our sense of purpose. In terms of how we choose who and how much to give to, a popular theory is the idea of a single narrative — that we are more likely to give when charity advertisements feature a single, identifiable beneficiary. Psychologist Nathalie Nahai believes that the personal connection, or the relatability, of the beneficiary is the key to soliciting more donations. “The public now responds much better if they can follow a concrete and tangible impact in a charity advert," she claims, and thus an advert seems more real and impactful with just one single person. Another important factor to consider is the concept of effective altruism. This idea, championed by leading academics such as William MacAskill, suggests that we should prioritize our giving based on evidence and research, rather than just emotions or personal connections. By focusing on organizations that are highly effective and efficient, we can maximize the impact of our donations and help to alleviate the greatest amount of suffering. In conclusion, the science of giving is a complex and multifaceted topic that can help us better understand why we give and how we make our decisions. Whether it's because of psychological factors, social influence, or a desire to make a positive impact, charitable donations play an important role in our lives and in the world.

In "The New Urban Crisis," Richard Florida offers a fresh perspective on the back-to-the-city movement. He argues that while this trend has brought educated and affluent individuals back to cities, it has also created new challenges such as gentrification, unaffordability, segregation, and inequality. Florida's work offers a compelling diagnosis of our economic ills and a bold prescription for more inclusive cities that can ensure growth and prosperity for all. This book is a must-read for those interested in urban development, social justice, and economic policy. Recommended for urban planners, policymakers, and anyone interested in the future of cities, "The New Urban Crisis" provides a comprehensive analysis of the challenges facing urban areas today. Richard Florida's work sheds light on the impact of the back-to-the-city movement and offers a bold prescription for creating more inclusive and sustainable cities. This book is relevant to a wide range of fields, including economics, sociology, environmental studies, and public policy. It is also a valuable resource for activists and community organizers working to promote social justice and economic equity in urban areas.

Do you want to make a positive impact on the world while pursuing a fulfilling career? Then you might want to consider studying Global Sustainable Development! This dynamic field of study focuses on finding innovative and practical solutions to some of the most pressing global issues of our time. From climate change to social justice, Global Sustainable Development incorporates a wide range of topics and disciplines, including economics, environmental science, politics, and sociology. By studying this field, you will gain a deep understanding of the complex systems that shape our world and learn how to effect positive change through innovative thinking and problem-solving. At the forefront of Global Sustainable Development research are some of the world's most brilliant minds, including scholars like Amartya Sen and Vandana Shiva, whose work has helped shape the way we think about sustainable development. Innovations in sustainable technologies, such as renewable energy sources and green infrastructure, are also advancing at an unprecedented rate, promising a brighter future for all. At the undergraduate level, majors in Global Sustainable Development often take courses in environmental science, economics, public policy, and sociology, among others. Potential areas of specialization include sustainable agriculture, urban planning, and sustainable tourism, among others. With a degree in Global Sustainable Development, you will have access to a wide range of exciting career opportunities. You could work for a nonprofit organization, a government agency, or a private sector company that prioritizes sustainability. You might work as a policy analyst, environmental consultant, or sustainable tourism specialist, among other roles. Some potential employers for Global Sustainable Development graduates include the United Nations, the World Bank, and major corporations like Patagonia and Ben & Jerry's, all of which have demonstrated a commitment to sustainability and social responsibility. To excel in Global Sustainable Development, you should be passionate about finding innovative solutions to global problems, have strong critical thinking and analytical skills, and be comfortable working in a team. A background in science or social science can also be helpful.

In "Happiness," economist Richard Layard delves into the paradox of our society's pursuit of wealth and happiness. Despite significant increases in income, we have not become happier. Layard draws on research from psychology, sociology, and economics to identify the key conditions that generate happiness. This book offers a road map for a happier life, grounded in hard research that will surprise you. Recommended for anyone interested in the intersection of economics, psychology, and sociology, "Happiness" offers valuable insights into the causes of happiness and how we can effect it. Layard's research and analysis provide a new perspective on the paradox of our society's pursuit of wealth and happiness. This book will be of particular interest to students of economics, psychology, and sociology, as well as professionals in fields such as public policy, social work, and counseling. Anyone looking to improve their own well-being will find valuable guidance in "Happiness."

Giving your time can strengthen your moral identity and benefit society more than just donating money, according to a new study from the University of Cambridge. Learn how 'moral cues' can activate moral identity and overcome 'time aversion' in charitable giving, and discover how you can make a difference by exploring this fascinating research.

In "American Wasteland", Jonathan Bloom takes on the timely and pressing issue of food waste, shedding light on the history, culture, and mindset behind it. Bloom's unique perspective, gained from working in both a local grocery store and a major fast food chain, and volunteering with a food recovery group, is combined with interviews with experts from various fields. This book explores not only why and how we waste, but more importantly, what we can do to change our ways. Discover the parallel eco-friendly and sustainable-food movements and reexamine our culture of excess. Recommended for anyone interested in sustainable living, environmentalism, food studies, economics, and social justice. This book offers a comprehensive examination of the issue of food waste, its history, and its impact on society and the environment. Bloom's firsthand experience working in the food industry and his interviews with experts from various fields make this book an insightful read for anyone looking to understand the complex issue of food waste and its potential solutions. This book will inspire readers to take action and make positive changes in their own lives and communities.

In "Plenitude," economist Juliet B. Schor presents a radical shift in how we think about consumer goods, value, and ways to live. As we face ecological and financial crises, Schor offers a groundbreaking strategy for transitioning towards a more sustainable and fulfilling life. This book challenges us to rethink our conventional market-driven lifestyles and consider alternative sources of wealth, green technologies, and community building. Through inspiring examples of urban farmers, DIY renovators, and Craigslist users, Schor shows how we can live a more abundant life in an era of high prices and traditional resource scarcity. "Plenitude" is a roadmap for a better future that values nature, community, intelligence, and time. Recommended for anyone interested in sustainability, economics, and social change, "Plenitude" offers a fresh perspective on how we can create a more fulfilling and prosperous life in the face of ecological and financial crises. This book might be particularly relevant to students studying environmental science, economics, sociology, or urban planning, as well as professionals in sustainability, community development, or green technologies. Additionally, anyone interested in DIY projects, urban farming, or alternative lifestyles might find inspiration in the examples of individuals and communities highlighted in this book. "Plenitude" challenges us to rethink our relationship with consumer goods and offers a roadmap for a more abundant life that values time, creativity, and community.

Acclaimed economist Jeffrey D. Sachs offers a thought-provoking and urgent assessment of the global threats of environmental degradation, rapid population growth, and extreme poverty in his book Common Wealth. Through a crystal-clear analysis of hard data, Sachs predicts the impending crises and presents a program of sustainable development and international cooperation to correct this dangerous course. This book is a vital product of his experience and wisdom, and a must-read for anyone interested in the future of our planet. Recommended for students and professionals in fields related to environmental studies, economics, international relations, and social justice, Common Wealth offers a comprehensive analysis of the global challenges that threaten our planet's peace and prosperity. Sachs' program for sustainable development and international cooperation provides a roadmap for policymakers and activists alike, and his predictions of impending crises are a call to action for all who care about the future of our planet. Anyone interested in the intersection of economics, politics, and the environment will find this book both informative and inspiring.

Money can buy happiness, but only up to a certain point. Research shows that once we have enough to cover our basic needs and a comfortable lifestyle, more money doesn't necessarily bring more happiness. So how much money do you really need to be happy? According to a study by Princeton University, the magic number is around $75,000 a year. Beyond this point, the increase in income doesn't lead to a significant increase in happiness. This is because we tend to adapt to our new income level and start taking it for granted. However, it's not just about the amount of money we make, but also how we spend it. Research by psychologist Elizabeth Dunn shows that spending money on experiences, like travel or concerts, brings more happiness than buying material possessions. This is because experiences create memories and social connections that last longer than the pleasure of owning something. Moreover, Dunn's research also reveals that spending money on others, through acts of kindness or charitable donations, can boost our own happiness. This is because it gives us a sense of purpose and social connectedness. But why do we care so much about money and happiness? One explanation is the concept of hedonic adaptation, which suggests that we have a natural tendency to seek out pleasure and avoid pain, but eventually adapt to our new level of pleasure and crave more. Therefore, our pursuit of happiness through material wealth is a never-ending cycle. Academics such as Richard Easterlin and Daniel Kahneman have made significant contributions to this field of research. Easterlin's Easterlin Paradox suggests that economic growth doesn't necessarily lead to increased happiness, while Kahneman's theory of peak-end rule suggests that our memories of experiences are influenced by the peak moment and the ending.

Do you have a passion for travel, food, and making people feel welcome? Then a career in Hospitality and Tourism Management may be the perfect fit for you! Hospitality and Tourism Management is a field that involves managing and coordinating various aspects of the travel and hospitality industry, including hotels, restaurants, resorts, and other businesses that cater to travelers. This field is constantly evolving and offers a wide range of exciting opportunities for those who are passionate about the industry. As a Hospitality and Tourism Manager, you will be responsible for ensuring that guests have a memorable and enjoyable experience. This can involve everything from managing staff and overseeing operations to creating marketing campaigns and developing new business strategies. There are many different areas of specialization within Hospitality and Tourism Management, including hotel management, event planning, tourism development, and restaurant management. Depending on your interests, you may choose to focus on one area or explore several different specializations throughout your career. To prepare for a career in Hospitality and Tourism Management, you will typically need to earn a degree in a related field. Popular undergraduate programs include Hospitality Management, Tourism Management, and Hotel Management. Additionally, many employers prefer candidates who have previous work experience in the industry, so internships and part-time jobs can be a great way to gain valuable experience. In addition to formal education and training, there are several personal attributes that can be helpful in this field. These include strong communication skills, a friendly and outgoing personality, and the ability to work well under pressure. Job prospects in Hospitality and Tourism Management are generally positive, with many opportunities for growth and advancement. Some notable employers include Marriott International, Hilton Worldwide, and The Walt Disney Company, as well as various government tourism boards and travel agencies. So, if you're looking for a career that combines your love of travel, food, and hospitality, consider exploring the exciting world of Hospitality and Tourism Management. With endless opportunities for growth and development, this field is sure to offer a fulfilling and rewarding career path.

Have you ever considered a career in sales? It's a dynamic and exciting field that requires a unique combination of skills and personality traits. Sales professionals are responsible for promoting and selling products or services to customers, and they play a crucial role in the success of any business. In the field of sales, you'll learn how to communicate effectively, negotiate deals, and build relationships with customers. You'll also develop skills in marketing, market research, and data analysis. And with the rise of e-commerce and digital marketing, there are more opportunities than ever to use technology to reach customers and close deals. One of the most interesting aspects of studying sales is the variety of industries and products you can work with. From selling software to medical devices, from real estate to luxury goods, there's a sales job for every interest. And with the right training and experience, you can earn a lucrative salary and advance to leadership positions within your company. Research in the field of sales is constantly evolving, with new innovations in technology and communication changing the way we interact with customers. Some of the most influential academic figures in sales include Neil Rackham, who developed the SPIN selling method, and Brian Tracy, who has written extensively on the psychology of selling. At the undergraduate level, you can expect to take courses in marketing, consumer behavior, and sales management. You may also have the opportunity to specialize in areas such as digital marketing or international sales. And with a degree in sales, you'll be prepared for a range of careers, including sales representative, account manager, marketing manager, and business development manager. Some of the top industries for sales professionals include technology, healthcare, and finance. And with companies like Google, Amazon, and Salesforce leading the way in sales innovation, there are plenty of exciting opportunities to work for top employers. Other notable employers include pharmaceutical companies like Pfizer and Johnson & Johnson, as well as luxury brands like Louis Vuitton and Chanel. To succeed in sales, you'll need to have strong communication skills, a competitive spirit, and a natural ability to connect with people. You should also be comfortable with technology and data analysis, as these skills are becoming increasingly important in the field. And with the right training and experience, you can build a successful and rewarding career in sales.

Do you ever wonder why you choose certain products over others? Or why you feel a certain way towards a brand or advertisement? If you find yourself interested in the psychology behind consumer decision-making, then Consumer Behavior might just be the field of study for you! Consumer Behavior is the study of how individuals and groups make decisions about what they buy, use, and dispose of. It incorporates elements of psychology, sociology, and economics to understand the complex factors that influence consumer behavior. One interesting aspect of Consumer Behavior is the concept of brand loyalty. Have you ever noticed that you always buy a certain brand of shampoo or cereal, even though there are other options available? This is because of the emotional connection you have with that brand, which has been carefully cultivated through marketing strategies and brand identity. Academic figures like Philip Kotler and Herbert Simon have made significant contributions to the field of Consumer Behavior. Kotler is known for his work on marketing management and consumer behavior, while Simon received the Nobel Prize in Economics for his research on decision-making in organizations. At the undergraduate level, typical majors and modules in Consumer Behavior include marketing, psychology, and consumer research. Further specialization can be pursued in areas such as digital marketing, brand management, and market research. With a degree in Consumer Behavior, there are a variety of potential future jobs and roles that this field of study might be directly helpful for. These include roles in advertising, market research, and public relations. Notable employers in this field include companies like Procter & Gamble, Coca-Cola, and Google. To succeed in Consumer Behavior, it's helpful to have strong analytical skills, an understanding of human behavior, and an interest in marketing and advertising. If you're fascinated by the psychology behind consumer decision-making, then Consumer Behavior might be the perfect field of study for you!

A study of over a million lonely hearts ads found that personality has become more important than finances when it comes to choosing a partner in western countries. However, finances remain a key factor in India. Explore how partner preferences have changed over time and across cultures.

Do you struggle to save money, resist impulse purchases, or stick to a budget? You're not alone. Many people find it challenging to make good financial decisions, but what if there was a way to nudge ourselves in the right direction? Enter behavioral design, a field that uses insights from psychology and behavioral economics to create products, services, and experiences that influence our behavior in positive ways. In financial management, behavioral design can be used to help people make better decisions about spending, saving, and investing. One key concept in behavioral design is choice architecture, which refers to the way options are presented to us. For example, research shows that people are more likely to save money when they are automatically enrolled in a savings plan than when they have to opt-in. Similarly, offering multiple payment options (e.g., credit card, debit card, cash) can encourage people to spend more than if only one option is available. Another important concept is mental accounting, which refers to the way we categorize and prioritize our money. For example, people tend to treat windfall money (e.g., a tax refund) differently than earned money (e.g., a paycheck). Behavioral design can help us leverage these mental accounting tendencies to make better financial decisions. Leading academics in the field of behavioral design, such as Richard Thaler and Cass Sunstein, have written extensively about these concepts and their applications. Thaler, in particular, was awarded the Nobel Prize in Economics in 2017 for his work on behavioral economics. But it's not just academics who are using behavioral design to improve financial management. Companies like Acorns and Digit use behavioral design to encourage saving and investing, while apps like Mint and YNAB use it to help people budget and manage their money more effectively. By exploring this topic further, you can gain a better understanding of how behavioral design can be used to improve financial decision-making and potentially apply these insights to your own life.

Sugar: A Bittersweet History is a fascinating exploration of a commodity that has shaped human history in ways we rarely consider. From its role in fueling the Industrial Revolution to its connection to modern-day fast food, this book offers a perceptive and provocative investigation of a substance that most of us consume every day. Impressively researched and commandingly written, this engaging book will leave you with a new understanding of the impact of sugar on our world. Recommended for anyone interested in the intersections of food, history, and society, Sugar: A Bittersweet History is a must-read. This book will be particularly relevant to students of history, sociology, and economics, as well as those interested in the politics of food and agriculture. It also has important implications for those concerned with issues of social justice, as it explores the brutal history of sugar production and its connection to slavery. For anyone looking to deepen their understanding of the world around them, Sugar: A Bittersweet History is an essential addition to your reading list.

Shopping can be an overwhelming experience, with countless options, products, and stimuli vying for our attention. With the rise of sensory marketing, retailers are leveraging our senses to make their products more appealing and influence our buying decisions. Sensory marketing is the strategic use of sensory stimuli - such as sights, sounds, smells, tastes, and touch - to create a memorable and immersive shopping experience. In fact, studies have shown that sensory marketing can significantly impact consumer behavior, leading to increased spending, impulse buying, and brand loyalty. One example of this is how some grocery stores use the scent of freshly baked bread or brewing coffee to make their customers feel more at home and relaxed. Similarly, luxury brands may use plush carpets or velvet curtains to create a feeling of exclusivity and opulence. According to a study published in the Journal of Consumer Psychology, sensory marketing can also increase the perceived value of a product. But sensory marketing isn't just about creating a pleasant environment - it can also be used to highlight certain products or influence consumer behavior. For example, retailers may use bright colors or flashing lights to draw attention to a specific display or product. Leading academics in the field of sensory marketing include Aradhna Krishna, a professor at the University of Michigan's Ross School of Business, and Martin Lindstrom, a marketing expert and author of the book "Brand Sense." By exploring sensory marketing and its impact on consumer behavior, students can gain a deeper understanding of the complex and fascinating world of retail marketing.

Customers feel better when decisions are made in their favor by a person rather than an algorithm. But why is this the case? A new paper by Wharton marketing professor Stefano Puntoni and colleagues explores the psychological reasons behind customer's positive and negative reactions to decisions made by humans vs algorithms.

Did you know that every day, you're bombarded with thousands of ads and marketing messages? From billboards and TV commercials to social media ads and product placements, it's hard to escape the constant barrage of sales pitches. But have you ever stopped to think about why some of these ads are so effective? Why you feel compelled to buy certain products, even if you don't really need them? The answer lies in your cognitive biases – the mental shortcuts your brain takes to make decisions quickly and efficiently. And marketers know exactly how to exploit these biases to get you to buy, click, or sign up for their products. For example, have you ever noticed that many products are priced at $9.99 or $19.99 instead of rounding up to the nearest dollar? That's because of the "left-digit effect," a cognitive bias that makes us perceive prices as significantly cheaper when the first digit is lower. Or maybe you've fallen victim to the "scarcity effect," which makes us place a higher value on things that are rare or in limited supply. That's why phrases like "limited time only" or "while supplies last" are so effective in driving sales. These are just a few examples of the many ways that marketers use cognitive biases to influence our behaviour. And while it may seem harmless, these tactics can have real-world consequences, ranging from encouraging us to buy things we don't need to larger scale manipulations such as impacting our political beliefs. So what can we do to protect ourselves from these mind games? Awareness is the first step. By understanding the cognitive biases that marketers use, we can start to recognise them in action and make more informed decisions. Some specific academic terms and concepts to explore include decision-making heuristics, anchoring bias, confirmation bias, and framing effects. Leading academics in this field include Daniel Kahneman, Amos Tversky, Richard Thaler, and Cass Sunstein. By learning more about how our brains work and how marketers try to influence us, we can become more savvy consumers and better decision-makers in all areas of our lives.

Have you ever wondered how some companies are able to achieve remarkable success while others struggle to stay afloat? The answer often lies in the field of Organizational Development, a fascinating area of study that focuses on improving the effectiveness and efficiency of organizations. Organizational Development is all about identifying and implementing positive changes within an organization to help it function better. This can include everything from improving communication and teamwork to streamlining processes and procedures. By making these changes, organizations can become more productive, profitable, and successful. One of the most interesting aspects of Organizational Development is the way it draws on a wide range of disciplines, including psychology, sociology, and business. This interdisciplinary approach has led to some truly innovative research and insights into how organizations can be improved. For example, researchers have found that creating a positive work culture can have a huge impact on employee engagement, retention, and productivity. If you're interested in studying Organizational Development, you can expect to take courses in topics like leadership, change management, and organizational behavior. At the undergraduate level, you might major in Business Administration with a focus on Organizational Development. However, there are also graduate programs specifically dedicated to this field. One of the great things about Organizational Development is that it can lead to a wide range of career paths. Graduates might go on to work in HR, management consulting, or even start their own consulting firms. Some notable employers in this field include McKinsey & Company, Deloitte, and Accenture. To succeed in Organizational Development, you'll need to be a strong communicator, a critical thinker, and someone who enjoys working with people. A background in psychology, sociology, or business can also be helpful. If you're passionate about helping organizations reach their full potential, a career in Organizational Development might be just what you're looking for.