Back in the days marketing relied heavily on assumptions of the effects it would have on consumers and how they would react to it. However, during the ‘60s and ‘70s now renowned researchers like Daniel Kahneman and Amos Tversky lay ground for behavioral economics that studies human economic decision making. Today, large parts of their empirical studies are being used as a baseline for setting up effective marketing strategies and – of course – can also be applied to social media marketing.
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