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Understanding Behavioral Economics in Sales Core Principles of Behavioral Economics: Behavioral economics combines insights from psychology and economics to understand how psychological factors influence economic decision-making . Unlike neoclassical economics, which assumes rational actors, behavioral economics acknowledges that human decisions are often influenced by cognitive biases, heuristics, and emotions. Application to Sales: In a sales context, this means understanding that customers do not always make perfectly rational choices based solely on price or features. Their decisions are swayed by perception, framing, social influence, and emotional responses. Sales training informed by behavioral economics aims to equip salespeople with techniques to leverage these psychological insights ethically to influence customer behavior.