Decision-making consulting services with scientific foundations
The knowledge of psychology and behavioural economics is used to study the necessary conditions that allow good decisions to be made in order to make organizations more successful.
Consultations are based on an understanding of the behaviour of managers, employees, suppliers and customers derived from contributions of great scientists. The approach is scientific and the methodology is based on observing the evidence gathering and analysing data. The benefits of data science are used for this analysis. Researchers put their knowledge of behaviour understanding at the service of private and public organizations, to improve the tactical and strategic decision making in these organizations. The research group works in the following areas:
- Hiring. Understanding the motivations of workers is vital for the incentive schemes of companies to work properly. In this sense, the research group advises the human resources department to design incentive schemes in order to maximize the performance of workers taking into account the idiosyncrasies of the organization where they work. Field experiments are taking place in the organisation by the research group in order to assess which incentive system suits best the company needs.
- Marketing. Understanding which elements affect consumer decision-making and how they do contribute great advantages when it comes to setting price strategies and deciding the positioning of the product in the market. From the laboratory, the research group offers different workshops and conferences that address these aspects from the point of view of behavioural economics.
- Risk management and communication. A solid understanding of statistics and risk is a very important competence in today's world in any field. The group organizes workshops and conferences on risk for all professional groups dealing with probabilistic and statistical information in their daily lives (doctors, business executives, lawyers, etc.). Help these professionals manage complex problems with simple rules and communicate probabilistic information clearly.
- Design of public policies. The practical uses of behavioural economics and related disciplines are increasingly evident in public policies. The group advises public administrations to design interventions to improve aspects of public life such as the realization of physical activity and diet, the sustainable consumption of energy and natural resources, or promote responsible saving and indebtedness.
- Design of services in tourism companies. Consumer purchasing decisions are affected by the way they process information about the presentation of a service. The UIB research group offers workshops and seminars dedicated to the study of the design of services based on the principles of behavioural economics and psychology. Likewise, it promotes the realization of experiments involving consumers of tourist services in order to understand how they make consumption decisions, and on what the opinion that is formed about the quality of these depends.