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Modeling the psychology of consumer and firm behavior with behavioral economics
Marketing is an applied science that attempts to explain and influence how firms and consumers actually behave in markets. Marketing models are usually applications of economic theories. Behavioral economics explores the implications of the limits of rationality. The goal is to make economic theories more plausible while maintaining formal power and accurate prediction of field data. This review focuses selectively on six types of models used in behavioral economics that can be applied to marketing. Three of the models generalize standard preference structures to allow: 1. sensitivity to reference points and loss aversion, 2. social preferences toward outcomes of others, and 3. preference for instant gratification. The other three models generalize the concept of game-theoretic equilibrium, allowing decision makers to make mistakes, encounter limits on the depth of strategic thinking, and equilibrate by learning from feedback. The main goal of this selected review is to encourage marketing researchers of all kinds to apply these tools to marketing.Printed Journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | American Marketing Association., |
|---|---|
| Edisi | - |
| Subjek | Consumer behavior Decision making Economic theory Models Market research studies |
| ISBN/ISSN | 222437 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |