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 though, 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.
Irrational Academy is the brainchild of Braincandy, a very innovative agency specialising in brand building and market research, using implicit methodologies and Behavioural Economics.