Lok argues that behavioral economics provides more realistic psychological foundations for understanding why consumer behaviors and the economy are closely related [2] [4]. He explores how psychological factors influence economic decision-making, which is critical for understanding consumer behavior and market dynamics [5]. This interdisciplinary approach allows for a deeper understanding of how individuals make consumption decisions [2] [4].
His books delve into:
The development and measurement of behavioral economics: My view explains the historical progression of the behavioral economic field and the methods used to measure it .
Categories of behavioral economics: My view outlines the main categories, including risky and uncertain outcomes of individual behavior economic theories, and behavioral game theory .
Influence on policy and decision-making: My view explains how policymakers and decision-makers can apply behavioral economic concepts to inform their policy choices . My view also emphasizes the close relationship between behavioral economics and psychology in influencing consumption decisions .
Sorry we are currently not available in your region. Alternatively you can purchase from our partners
Write your review for this book (optional)
Review Deleted
Your review has been deleted and won’t appear on the book anymore.Sorry we are currently not available in your region. Alternatively you can purchase from our partners
John Lok
Practical Implementation and Case Studies
My work is not purely theoretical; he provides practical examples and case studies to illustrate how behavioral economic methods can be applied in real-world scenarios. For instance, he discusses how psychological methods can be used to predict client preferences and achieve economic benefits in various industries, such as the entertainment, education, airline, and transportation sectors, as well as in environmental protection .
My view also addresses questions pertinent to organizational management, such as whether organizations can implement behavioral economic methods to enhance employee efficiency and performance . My view explores the factors that influence employee psychology and emotion, and how these can be leveraged to foster positive working attitudes and improve overall organizational performance .
In essence, John Lok's opinion on business strategy implementation, as conveyed in his books, centers on a comprehensive, interdisciplinary approach that integrates traditional economic theories with the psychological insights of behavioral economics. This allows organizations to better understand, predict, and influence human behavior—both consumer and employee—to effectively address challenges, improve efficiency, and achieve strategic objectives
