Month: July 2012

Last Updated on 10th May 2018
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Posted in Behavioural Economics, Casino, Gambling, Loss Aversion, Psychology, Sunk cost fallacy

By - Neal Cole

The Psychology of Loss Aversion

Why do people suffer from loss aversion? As anyone who has bought stocks during a bull market will know, making a quick profit is great, but making a loss is difficult to stomach! Behavioural scientists call this loss aversion. People are intrinsically afraid of losses. When compared against each other people hate losing more than they enjoy winning. Thus losses

Tagged : behavioural economics, Blog, endowment effect, Gambling, Insurance, loss aversion, market research, prospect theory, psychology, risk

Last Updated on 11th April 2018
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Posted in Brand, Financial Services, Market Research, Mystery Customer Shopping

By - Neal Cole

Can Video Mystery Shopping Protect Your Brand?

Using Research To Protect Brand Reputation: Video mystery shopping is a contentious research methodology. However, rarely does a month go by without hearing about another mis-selling scandal in financial services or some other regulated sector. Given the ramifications of the 2008 financial crisis you would expect more monitoring of firms behaviour. This is especially important in retail financial services where

Tagged : Advice, Banking, Blog, Customer Experience, Customer Service, Financial Services, FSA, Insurance, market research, mystery shopping, Regulation, Sales