In the late 1980s, the UK was entering into a recession and dwindling profits started affecting Hoover, the leader in the British cleaning market. Between 1987 and 1992, Hoover’s profits fell from $147m to $74m. The 50 percent market share was tanking fast. What to do? They devised a clever strategy where anyone who spent…
A 1993 research conducted by Daniel Kahneman and Barbara Frederickson found that the human memory is rarely a perfectly accurate record of events. Study participants were instructed to hold their hands in cold water for an uncomfortable but not dangerous experimental condition. A series of short trials were conducted; the starting condition and hand submerged…
As part of 6 experiments across people in the US, Europe, Hong Kong, and mainland China: People donated 25.1% more (HK$8.38 vs HK$6.70) to the charity For Children when they were asked to “Gift” rather than “Donate” (e.g. in charity descriptions, on envelopes) 21.8% more employees at a company donated used books (53.5% vs 31.7%)…