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behavioral economics consulting group

Practical expertise, applied with creativity and skill

The Behavioral Economics Consulting Group, LLC is a full service management consulting firm with particular expertise in market strategy, innovation, and empirically based organizational development.

While we engage in a broad range of traditional consulting engagements, we are distinguished by our approach and methods. Founded in 2003 by Dr. Sara Wedeman, BECG's approach draws not only on her 25 years of experience in consulting, research and clinical practice, but also on that of fellow 'explorers' in the nascent fields of economic psychology and behavioral economics.

Did you know that:

Even in cultures that place a high premium on wealth, peoples' most treasured possessions rarely have financial value?

venn_diagram Sometimes the best way to “move” a product that is not selling is to increase the price?

People usually implement preventive measures after being hit with a crisis, due to a combination of procrastination, denial, and 20/20 hindsight?

Neither money, influence, nor popularity ‘drives’ happiness? Instead, the qualities that create life satisfaction are: autonomy (the feeling of having chosen and of being able to exercise authority in one's activities), competence, relatedness and self-esteem.

Venture capitalists and entrepreneurs often err by designing deals that focus on the individual rather than the team. When the contract includes the team and maximizes rewards for ‘hanging in’ for the long term, economic outcomes improve.

......All of the above are results from rigorously conducted studies in the fields of economic psychology and behavioral economics.

Understanding the interplay of thought, emotion, and physiology -- and the patterns of behavior they create, can help leaders make better, more robust decisions and implement them more effectively.