Easter Eggs are a master class in behaviour.
Traditional economics is built on the idea of rational actors.
In other words, people always seek to maximise their economic outcome and do so in a rational, cool headed fashion.
Why is it then that we pay multiples more for chocolate just because it is wrapped in foil and shaped like an egg?
Ritual, social norms, symbolism, scarcity - these all influence us to buy Easter eggs.
๐ So next time you feel confused about why your customer or colleague did something that doesnโt make sense on paper, remember the humble Easter egg.
Just because itโs not rational, doesnโt mean we canโt rationalise it.
Pssst...Speaking of Easter, I'm taking a short break from daily blogs next week and will be back in your inbox 28th April. I am still in the office though, so feel free to get in touch.
P.S. If you are a Just Do This member, remember we have our Open Office next Thursday 24th April, 11.30am-12.30pm Melbourne time. Find the details of how to join in your New This Month section.
๐ If you found this interesting, let me know! Buy me a virtual coffee โ or forward this email โ๏ธ to someone who also might like it. Your occasional support means I can keep sharing ideas about behavioural science for free.
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