CONSUMER DECISIONS FROM THE ANGLE OF BEHAVIOURAL ECONOMICS (Fogyasztoi dontesek a viselkedesi kozgazdasagtan szemszogebol)

• Authors: Koltay Gabor , Vincze Janos
• Languages of publication: HU

Abstracts

EN

Through reviewing the literature, the article examines how the means of behavioural economics can be used to analyse consumer decisions. Some of the essential conclusions are these: 1. As with non-standard preferences, asymmetrical information prevents a Pareto efficiency developing even with free competition. 2. The empirical findings point to the conclusion that the role of communal preferences is negligible in well-operating short-term market exchange relations. 3. 'Sense and sensibility' are often indistinguishable in consumer decision-making, at least partial exploitation of which may explain the gain companies make from advertising and marketing. 4. It is not enough to examine average behaviour: special attention needs paying in regulatory decisions to the situation of consumers most likely to make mistakes. 5. When any market intervention is planned, the theoretical considerations must always be complemented by specific, empirical investigations.

Keywords

EN

BEHAVIORAL ECONOMICS; CONSUMER ECONOMICS

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Committee for Economic Sciences of the Hungarian Academy of Sciences
• Journal: Kozgazdasagi Szemle (Economic Review)
• Year: 2009
• Volume: 56
• Issue: 5
• Pages: 495-525
• Document type: ARTICLE

Contributors

author

Koltay Gabor

author

Vincze Janos

• Gabor Koltay, no address given, contact the journal editor

Identifiers

CEJSH db identifier

10HUAAAA07885