Engineering Better Decisions: Exploring Influencing Factors of Behavioral Economics on SGE - System Generation Engineering
DS 130: Proceedings of NordDesign 2024, Reykjavik, Iceland, 12th - 14th August 2024
Year: 2024
Editor: Malmqvist, J.; Candi, M.; Saemundsson, R. J.; Bystrom, F. and Isaksson, O.
Author: Batora, Mona; Ognevoj, Roman; Schock, Moritz; Ritzer, Katharina; Bursac, Nikola
Series: NordDESIGN
Institution: Hamburg University of Technology, Germany; Karlsruhe Institute of Technology, Germany
Page(s): 888-897
DOI number: 10.35199/NORDDESIGN2024.94
ISBN: 978-1-912254-21-7
Abstract
Decisions made during product development, from ideation to market readiness, are pivotal. Focusing on SGE – System Generation Engineering, this study investigates the impact of behavioral economics on decision processes in product development. It identifies 53 influencing factors from the nudging approach, categorized into clusters crucial for shaping decision architectures. By recognizing good decision characteristics, such as coherence, efficiency and effectiveness leveraging behavioral insights, the paper advocates for informed decision-making to drive innovation in the context of SGE.
Keywords: Product Development, Innovation Management, Human Behaviour, Decision Making