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Languages : en
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Author: John O'Shaughnessy
Publisher: Routledge
ISBN: 1135978263
Category : Business & Economics
Languages : en
Pages : 284
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Book Description
This book examines modern consumption, focusing on concepts of autonomy and rationality. In recent years, conventional ideas of 'free will' have come under attack in the context of consumer choice and similarly, postmodernists have sabotaged the very notion of consumer rationality. O Shaughnessy and O'Shaughnessy adopt a moderating perspective, rev
Author: Florian Schleicher
Publisher: GRIN Verlag
ISBN: 3656556369
Category : Psychology
Languages : en
Pages : 37
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Master's Thesis from the year 2013 in the subject Psychology - Work, Business, Organisation, grade: 2,3, Technical University of Munich, language: English, abstract: When going for grocery shopping, some consumers make up their minds about what to buy and write down shopping lists. Others just go into the supermarket and do not really think beforehand about the things they need. Although in both situations, individuals engage in different ways of decision making on the purchase of groceries, when coming home and putting things into the shelve, they positively or negatively assess the things they bought. Whereas in some situations one gets a positive feeling because e.g. s/he purchased all the products on the shopping list. In another situation, a consumer might end up being bored because s/he just bought the groceries which are perceived as useful, and did not listen to his/her inner voice calling for more than just the fulfillment of utilitarian needs. Generally, consumers can consciously do their purchases and decide for products after thinking on it, or can consider a product’s attributes and let their intuition decide. In the interest of the consumer, the question emerges how the consumer decides at best. Does a consumer receive greater satisfaction from consciously elaborating about the products s/he is facing, or is it better not to think consciously when facing product choices? This question is differently assessed by different models on decision making. Whereas some authors (Ajzen, 2011; Bandura, 1986, 1997; Deci & Ryan, 1985; Payne et al., 1993) emphasize consciousness in decision making, there is also a large number of proponents of unconscious thought (Dijksterhuis, 2004, Dijksterhuis et al., 2005, 2006a, 2006b, 2006c, Levine, 1996, Bargh, 2002, and Wilson et al., 1993). Dijksterhuis and Nordgren (2006b, p.96) argue for the superiority of unconscious decision making by mentioning that “...conscious thought is constrained by the low capacity of consciousness”, which results in sub-optimal choices. With regard to food products, this general superiority of unconscious thought is highly questionable. On the one hand, consumers constrain themselves in taking into account only specific products which respect certain criteria, as e.g. with diabetics and food products with less sugar content. On the other hand, food products are also bought because consumers want to confirm their conscience by purchasing e.g. fair-trade products which among other things are associated with a fair payment of farmers.
Author: Alistair Munro
Publisher: Springer Science & Business Media
ISBN: 1402094736
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
This book is about bounded rationality and public policy. It is written from the p- spective of someone trained in public economics who has encountered the enormous literature on experiments in decision-making and wonders what implications it has for the normative aspects of public policy. Though there are a few new results or models, to a large degree the book is synthetic in tone, bringing together disparate literatures and seeking some accommodation between them. It has had a long genesis. It began with a draft of a few chapters in 2000, but has expanded in scope and size as the literature on behavioural economics has grown. At some point I realised that the geometric growth of behavioural - search and the arithmetic growth of my writing were inconsistent with an am- tion to be exhaustive. As such therefore I have concentrated on particular areas of behavioural economics and bounded rationality. The resulting book is laid out as follows: Chapter 1 provides an overview of the rest of the book, goes through some basic de?nitions and identi?es themes.
Author: Fouad Sabry
Publisher: One Billion Knowledgeable
ISBN:
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
What is Consumer Choice The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption, by maximizing utility subject to a consumer budget constraint.Factors influencing consumers' evaluation of the utility of goods include: income level, cultural factors, product information and physio-psychological factors. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Consumer choice Chapter 2: Utility Chapter 3: Indifference curve Chapter 4: Budget constraint Chapter 5: Substitute good Chapter 6: Marginal rate of substitution Chapter 7: Income-consumption curve Chapter 8: Substitution effect Chapter 9: Law of demand Chapter 10: Utility maximization problem Chapter 11: Marshallian demand function Chapter 12: Revealed preference Chapter 13: Hicksian demand function Chapter 14: Corner solution Chapter 15: Relative price Chapter 16: Local nonsatiation Chapter 17: Quasilinear utility Chapter 18: Homothetic preferences Chapter 19: Preference (economics) Chapter 20: Robinson Crusoe economy Chapter 21: Linear utility (II) Answering the public top questions about consumer choice. (III) Real world examples for the usage of consumer choice in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Consumer Choice.
Author: Thomas Riechmann
Publisher:
ISBN:
Category :
Languages : en
Pages : 52
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Author: Timothy P. Roth
Publisher: University Press of America
ISBN: 9780761809449
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
The neoclassical theory of choice is an integral part of a large and growing literature. Its elegance, simplicity and apparent generality appear, increasingly, to influence the thinking of psychologists, sociologists, and political scientists. At the same time, the theory is subject to robust attack. The theme of the book is that the critics have it right. Account must be taken of the endogeneity of preference and value structures, of decision makers' cognitive limitations, of information asymmetries, of opportunistic behavior, and of positive transaction and decision costs. Yet these considerations militate against the specification of both the efficiency frontier and the Social Welfare Function. This, in turn, suggests that Social Welfare Theory is an inappropriate guide for the formulation of distributional and other economic policies. A corollary is that economists' (and others) attention should center less on 'getting the prices right' and more on 'getting the institutions right'.
Author: Timothy P. Roth
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 184
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Author: Barry Schwartz
Publisher: Harper Collins
ISBN: 0061748994
Category : Psychology
Languages : en
Pages : 308
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Book Description
Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.
Author: Ran Spiegler
Publisher: OUP USA
ISBN: 0195398718
Category : Business & Economics
Languages : en
Pages : 235
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Book Description
Ît then rigorously analyses each model in the tradition of microeconomic theory, leading to a richer, more realistic picture of consumer behavior. Ran Spiegler analyses phenomena such as exploitative price plans in the credit market, complexity of financial products and other obfuscation practices, consumer antagonism to unexpected price increases, and the role of default options in consumer decision making. Spiegler unifies the relevant literature into three main strands: limited ability to anticipate and control future choices, limited ability to understand complex market environments, and sensitivity to reference points. Although the challenge of enriching the psychology of decision makers in economic models has been at the frontier of theoretical research in the last decade, there has been no graduate-level, theory-oriented textbook to cover developments in the last 10-15 years.
