The New product development (NPD) and behavioral economics (BE) have been researched extensively, yet not in a systematic combined way. In addition, lean philosophy in NPD versus the new 10x mindset of Silicon Valley raise a strategic dilemma: aim for incremental continuous improvement or for ‘10x’ breakthrough improvement? This paper proposes few guidelines and a conceptual framework on using BE in NPD, bringing together for the first time these two domains in a synthesized manner. It also formulates for the first time a potential new cognitive bias: the customer ‘try-new’ bias, augmented by decreasing pace of product innovation or improvement, and influenced by hedonic adaptation and peak-end rule, in the attempt to provide a BE based answer to the above strategic dilemma. Contributions are theoretical; hypotheses listed remain to be tested and adapted.

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