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Ward Greunke

About Ward Greunke

Ward Greunke is focused on understanding how people can use technology to help them achieve their goals. His blog: latentvalue.blogspot.com shows how products can influence behavior that is valued by the customer. He first started studying behavioral economics during his MBA at Santa Clara University and in his spare time likes to write R programs for Kaggle competitions related to customer behavior.

Guest post: The convergence of behavioral economics and big data

What does cold dead fish have to do with random forests? If you were to open a restaurant that served cold dead fish, you would not stay open for very long. However, if you used the concept of framing and instead sold a delicacy called Sushi, you would have much better chance of staying in business. Framing is a concept in the emerging field of behavioral economics that attempts to understand how people make decisions as well as how to influence those decisions. Other examples include the use of a default preference in order to encourage more people to become organ donors and rearranging the layout of food in a school cafeteria to get kids to eat more healthy fruits and vegetables. Continue reading

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