Show notes
In a 2019 article for Behavioral Economics, Aline Holzwarth, a behavioral scientist, used Newton’s laws of motion to inform three laws of human behavior.²
These three laws are:
- Behavior tends to follow the status quo unless it is acted upon by a decrease in friction or increase in fuel. (Change depends, then, on how much friction or fuel there is.)
- Behavior (B) is a function of the person (P) and their environment (E), or B=f(P,E). (The person matters, but so does the environment.)
- For every decision made, there are tradeoffs and the potential for unintended consequences. (Opportunity cost)
AUDIBLE FREE TRIAL: http://www.audibletrial.com/scottrnicoll
ARTICLE: https://www.behavioraleconomics.com/the-three-laws-of-human-behavior/

