Search
Generic filters
Filter by Categories
Accounting
Banking

Business




Choice Architecture


The process of setting and designing the possible options for decision making with respect to a specific issue or subject-matter. This involves a role played by the so-called choice architect whereby the context for such a decision making is organized to take place as per the pre-defined settings. This process is key in influencing behavior as the way in which  different options are defined and presented has a huge, indirect, impact on the choices humans make.

Examples of choice architects include 1) a salesperson that defines the possible alternative goods or a combination thereof, 2) a government agency that designs a ballot for voters to use in the voting process, 3) a physician who sets out the alternative treatments available to a patient, 4) a broker who provides a customer with a list of securities for investment, etc.

Choice architecture helps businesses direct the behavior of consumers, while retaining their sovereignty (as manifested in the right to decide and choose). This process involves nudging consumers to make certain choices.



ABC
This section includes entries relevant to management, leadership, motivation, human resources, information technology, sales and marketing and so on. It ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*