Description

Neoclassical economics assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences. But in the real world, this is often not the case. This book combines elements of economics and psychology to help you understand how and why consumers behave the way they really do. Using behavioural economics as the foundation, the author explains the anomalies in consumer choices and what really influences human behaviour, preferences and decision-making. Often the case, emotional as well as economic factors play a vital role in consumer behaviour. Therefore, behavioural economics can be an important aid to business and marketing strategies by understanding how consumer decisions can be influenced.

The Consumer Behaviour Book

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Short Description:

Neoclassical economics assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences. But in... Read more

    Publisher: LID Publishing
    Publication Date: 6/27/2024
    ISBN13: 9781915951205, 978-1915951205
    ISBN10: 1915951208

    Non Fiction , Business, Finance & Law

    Description

    Neoclassical economics assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences. But in the real world, this is often not the case. This book combines elements of economics and psychology to help you understand how and why consumers behave the way they really do. Using behavioural economics as the foundation, the author explains the anomalies in consumer choices and what really influences human behaviour, preferences and decision-making. Often the case, emotional as well as economic factors play a vital role in consumer behaviour. Therefore, behavioural economics can be an important aid to business and marketing strategies by understanding how consumer decisions can be influenced.

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