Many recent bestselling books have forced marketers and marketing researchers to rethink the motivations they attribute to consumers—books such as Freakonomics, by Steven D. Levitt and Stephen J. Dubner; Predictably Irrational: The Hidden Forces That Shape Our Decisions, by Dan Ariely; and Malcom Gladwell’s The Tipping Point: How Little Things Can Make a Big Difference. We no longer think of either retail consumers, like you and me, or business decision-makers as homo economicus (economic man)—that phantom of classical economics, the unemotional, value-maximizing buyer of goods and services, whose computer brain, with perfect market information, activates sophisticated product attribute/price trade-off algorithms ...
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