Irrational economic decisions are made all the time in order to get something now, that will really cost us more in the long run than the value it gives us right away. Theories on irrational economic decisions are quite interesting when discussing social media KPIs as the basis of recommendation, word-of-mouth marketing, which is the basis of social media marketing, is really quite irrational in itself.
It is all about creating an artificial value that is placed on top of an actual value. I feel I need an example for this one.
The example of the Red ball
Imagine a red ball. It is spherical and red. Now imagine another red ball. It is spherical and red. Which ball is worth the most?
Read moreThe Rational of Irrational Social Media KPIs