Hyperbolic Discounting

Five tricks our minds play on us and what marketers need to know

There’s a phenomena on the cusp
between behavioral economics and psychology known as cognitive biases which are
essentially scientifically documented tricks that our minds play on us.

As all of
us in the world of digital marketing are in the business of persuasion,
understanding these often irrational tendencies can help us do a better job.

Some are glaringly oblivious when
you’re alerted to them, other are far more subtle in the way they influence
decision making. 

I recently delivered a talk at A4U Expo London exploring
a few of these ‘mind tricks’ but I want to explain them further and in more
depth.