Reference no: EM131681844

Consumers often choose and use brands based on a variety of reasons that are often more complex than we might first realize. Kotler describes the importance of behavioral economics and economic decision making in chapter 5. Support your understanding of this topic by reading the Uber article in Harvard Business Review and citing this and/or other articles on the topic. A traditional economic approach suggests we are rational consumers, while behavioral economics suggests we are much more fallible. Initial Post Explaining behavioral economics and its impact on consumer decision making. Cite your research. Provide specific personal examples of how organizations have used the principle of nudging for good applying behavioral economics in a manner that was beneficial to you as a consumer as well as beneficial to the organization.