Economic consulting without a deep understanding of the relevant behavioral patterns of customers, employees, deliverers, and other stakeholders, is impossible. The advice from FehrAdvice & Partners AG is thus based on the newest knowledge gleaned from behavioral economics – behavioral economic research.
Nobel laureates Daniel Kahnemann, George Akerlof, Vernon Smith, and Reinhard Selten developed the foundation for behavioral economic research. The internationally renowned professors of economics Richard Thaler (University of Chicago), George Loewenstein (Carnegie Mellon University), Colin Camerer (Caltech), Dan Ariely (Duke University), and Ernst Fehr (University of Zurich, New York University) have made major contributions in bringing behavioral economic research into business and politics in a way that is applied and practicable.
FehrAdvice makes this knowledge available for economic consulting. The result is an independent consulting approach – the Behavioral Economics Approach (BEATM). Its use by consultants trained in behavioral economics as well as innovative methods from empirical research enable us to identify untapped possibilities for improvement in enterprises, markets, and organizations.
A methodical core of BEATM is the behavioral database established by FehrAdvice, where empirical knowledge about human behavioral patterns and preferences are systematically organized. Our Software FABELSTM, which enables the methodologically correct yet simple realization of experimental surveys, is equally innovative.