Braincandy Group
Irrational Academy

Behavioural Economics

Most of us have been taught the principles of classical economic theory, according to which man is a perfectly reasonable creature who tries in any case to maximize his benefit. Although such a finding sounds "logical," the truth is that it has never been proven, and if we just look around us, such a claim does not make much sense. If that were the case, then at least most of us wouldn’t need pressure to eat healthy, exercise regularly and save money.

During the last decades, a new approach, that is becoming more and more popular, aims to overcome classical economics’ drawbacks in predicting and influencing human behaviour. This approach is called Behavioural Economics and is mainly based on the scientific work of Daniel Kahneman, the first non-economist who won the Nobel prize in Economics. Kahneman claims that there are two systems in our brain: System 1, the non-cognitive part that controls emotions, instinct and intuition, and System 2, the cognitive part that does the calculations or “thinks” logically.

As it turns out, we think much less than we think we think. The majority of our decisions are automatic, based on our emotions and instincts. In reality, System 1 decides in the background and System 2 just post-rationalises these decisions.

Personal state
We are feeling machines that think, not thinking machines that feel. The more we feel, the more we do about a brand (buy, talk, browse, share, advocate etc.). It is the single best predictor of shopper behaviour - much better than Purchase Intention. Mental state is also important. Being tired, hungry, in pain or aroused (hot states) dramatically impacts our decisions.
Social influence
We are social animals and we copy. We are much less individual than we like to think and much more influenced by other people. We instinctively seek for Social proof. We are also better predictors of peers' behaviour rather than our own: Positive self regard makes us unreliable witnesses of ourselves.
Prior experience
Past decisions matter a lot, they set the flow, the Auto-pilot in our decision process. It is this flow we are trying to influence and we wish it was as easy and simple as finding a successful message or promotional idea. In reallity it is much more complicated, yet more exciting!
Context frames our decisions much more than we realise. Context is about options and environment: We are usually unable to judge things on absolute value so we are rely on comparisons of the available options. And apart from options, environment is sometimes so important that it can actually decide for us, without even realising it.

Meet our Team

Braincandy was set up with a boutique approach by people with diverse backgrounds and perspectives: Research from the agency's side, Research from the client's side, Marketing, Sales, Retailing, FMCG, Banking, Advertising. We may be so different, but we all have something in common: passion for decoding human behaviour and guiding busines growth.

This is where we work.
Can you imagine?

Take a look of our first day at work video here

We love art so much, that we couldn’t breathe in a conventional space. Our office is an art installation that embraces beautiful thinking and new artists of any field.
We are happy to accommodate art pieces, especially from young artists, and help them promote their work (of course without any commission).