On Wednesday, Jim and Margery invited resident behavioral economist Michael Norton onto Boston Public Radio to discuss his latest research on how consumers are affected by voting campaigns.
The first example the three discussed was the RRS Sir David Attenborough, a United Kingdom research vessel whose name was originally intended to be chosen through an online poll, before internet voters overwhelming elected the name "Boaty McBoatface.” The U.K.’s science council vetoed that decision, but conceded to passing along the chosen name to one of its autonomous yellow submarines.
Read More: Boaty McBoatface, Internet-Adored Sub, Makes Deep-Sea Discovery On Climate Change
Norton explained that campaigns like this have existed for years, but exploded along with the adoption of the internet.
“The internet makes it easier,” he said, because "any product any firm releases, they can throw it out there and let people vote on it… and, again, in theory it’s fantastic because the company now makes products that the people really want, because they told them that. And then people get the thing that they really want as well– so often it’s great."
Michael Norton is the Harold M. Brierley professor of business administration at Harvard Business School. His Latest book is "Happy Money, The Science of Smarter Spending." He’s also co-host of the podcast "Talking Green," which explores the psychological forces that drive attitudes and decisions around money and investing.
