Behavioural economics for advertising
Rory Sutherland of the IPA is leading a push for behavioural economics in the advertising business. This video is an excellent summary of how ad agencies should turn " human understanding into business value for clients ". Here is his TED video about intangible goods , which has plenty in common with the best bits of Tyler Cowen - he even mentions Tyler and Marginal Revolution in the talk. And here is the event on Wednesday that I missed - thanks (but no thanks!) to Mark Earls for mentioning it after the fact. I guess I should have checked his blog before Wednesday too... I agree entirely with the message that behavioural economics is a critically important discipline for marketers to master. It has the potential to finally bring science and rigour to the practice of marketing, which has for many years been a craft - a well-practised craft, but still one with no basis in testable, predictive theory.