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Behavioral economics as the new marketing? Of course. And this site, Helium Knowledge, uses the concept to perfection.

Helium Knowledge is an excellent example of behavioral economics. Why? Because Helium raters (writers) engage in a biased behavior that uses both knowledge and emotion to rate articles of others writers. The writers in question are vying for top positions; economic positions that will ultimately make money.

We can get into great long definitions of this seemingly complex subject matter, but there is no need. Helium (and its rating system) is, simply put, the perfect example for understanding this concept.

Economics deals with money; behavior deals with how we respond or react to a problem posed. When we are faced with rating articles on Helium, we respond in reaction to our history, our wisdom, our cultural beliefs, pre-determined rules, our biases, and our emotions.

In addition, the Helium rater must determine the exact meaning of a question and how well a writer has responded to that question. That's a very subjective matter, resulting in a behavioral bias that sometimes seems to have no rhyme or reason. But a rater can only rate in accordance to what he or she knows, understands, and emotionally accepts as valid.

As a result, the rater responds by either rating a writer's article down to the lower (non-earning money) position, or rating them up into the higher (money-earning) position. Behavior = an economical result. That is exactly what behavioral economics is all about.

Once the behavioral economics system is in place, the marketing part comes easily. Employ a group of people filled with ideas, biases and emotions and you will draw more of those people. The exponential factor is undeniable and irresistible. More people mean more marketing, more marketing means more people.

Kudos, Helium! What a brilliant execution of behavioral economics!

Learn more about this author, Sheree Zielke.
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