All of economics is based on behavior. For this reason, any economic consulting aims to influence human behavior. A firmâ?²s pricing policy has the objective of influencing the customersâ?² behavior. Consulting about the optimization of an organization and incentives aims to better align the employeesâ?² behavior with the objectives of the enterprise, and consulting on negotiation should aid in getting suppliers to deliver tailor-made yet reasonably priced products. Consulting without insight into the relevant behavioral patterns of customers, employees, and suppliers is thus impossible. This is the reason why the consulting from FehrAdvice & Partners AG is based on the most modern insights from behavioral economics. FehrAdvice & Partners AG meld these insights into a usable form for consulting and further develop them with empirical and theoretical studies. This results in an independent consulting approach, the Behavioral Economics Approach BEAâ?¢, developed through the cooperation with one of the worldwide leading behavioral economics researchers, Prof. Dr. Ernst Fehr of the University of Zurich. The scientific basis behind BEAâ?¢ stems from the newest knowledge from psychological research on making judgments and decision behavior; experimental economic research; and game theory with a strong orientation towards a scientific understanding of behavior.
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