Behavioural economics, consumer behaviour and consumer policy: state of the art

• Published in: Behavioural Public Policy Vol. 1; no. 2; pp. 190 - 206
• Main Authors: REISCH, LUCIA A., ZHAO, MIN
• Format: Journal Article
• Language: English
• Published: Cambridge Cambridge University Press 01.11.2017
• Subjects: Bias; Consumer behavior; Consumers; Decision making; Economics; Heuristic; Marketing; Regulation; Science; Theory

Counter to the traditional assumption of neoclassical economics that individuals are rational Homo oeconomici that always seek to maximize their utility and follow their ‘true’ preferences, research in behavioural economics has demonstrated that people's judgements and decisions are often subje...