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Consumer behavior and the aspiration for conformity and consistency
Göbel, Markus; Schneider, Andrea; Thomas, Tobias - 2006
The (socio-)psychological concepts of individual aspiration for conformity and consistency are integrated into the … rational-choice framework. By using this integrative approach it is shown that after a shock the aspiration for conformity …, whereas the aspiration for consistency leads to the result that the equilibrium consumption is not reached at once. Combining …
Persistent link: https://www.econbiz.de/10010263455
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Relational Utility and Social Norms in Games
Su, Ruiyang; Morsky, Bryce - 2022
In human societies, overcoming incentives to act selfishly is immensely important so as to promote prosocial behaviours. Social norms and relational utility, utility generated by such feelings as guilt, are mechanisms by which cooperation and coordination can be facilitated. Here we add...
Persistent link: https://www.econbiz.de/10014256303
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Fixed Costs, Failing Diets : Shopping Frequency and Food Choice
Colby, Scott - 2016
From 1998 to 2009 I find that the average time between U.S. households' grocery shopping trips has steadily increased from 4.7 to 6.2 days, and from 1998 to 2006 per capita monthly consumption of fresh fruits and vegetables has decreased from 130 to 112 oz. To understand these changes, a dynamic...
Persistent link: https://www.econbiz.de/10013004345
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Rationalizing Declining Grocery Shopping Frequency
Colby, Scott - 2015
Households have decreased their grocery shopping frequency from once every 4.7 days in 1998 to once every 6.3 days in 2009. To understand this change, an optimal control model is developed of a utility maximizing household that chooses when to shop, how much to purchase, and their piece wise...
Persistent link: https://www.econbiz.de/10013010610
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Consumer Choice Rule While Examing Similar Consumption Bundles : Rational Choice to Behavioural Bias
Vikramaditya, Vibhu - 2021
The study tries to recognize the behaviour of the consumer with respect to the opportunity cost and marginal benefit associated with the commodity. The research tries to evaluate the factors and identify behavioural traits of consumers if they exist in decision making. The study also tries to...
Persistent link: https://www.econbiz.de/10013237102
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Consumer Choice Rule While Examining Similar Consumption Bundles : Rational Choice to Behavioral Bias
Vikramaditya, Vibhu - 2021
The study tries to recognize the behavior of the consumer with respect to the opportunity cost and marginal benefit associated with the commodity. The research tries to evaluate the factors and identify behavioral traits of consumers if they exist in decision making. The study also tries to...
Persistent link: https://www.econbiz.de/10013245656
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Values, attitudes and economic behavior
Roos, Michael W. M. - 2018
In this paper, I propose a simple model in which behavior is determined by the individual's attitude towards the behavior and the attitude depends on the individual's values. The model is based on the Schwartz theory of human values, which is very prominent in social psychology. Values are...
Persistent link: https://www.econbiz.de/10011932108
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Understanding markets with socially responsible consumers
Kaufmann, Marc; Andre, Peter; Kőszegi, Botond - 2023
Many consumers care about climate change and other externalities associated with their purchases. We analyze the behavior and market effects of such "socially responsible consumers" in three parts. First, we develop a flexible theoretical framework to study competitive equilibria with rational...
Persistent link: https://www.econbiz.de/10014443852
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Demand Cycles and Heterogeneous Conformity Preferences
Baumann, Leonie - 2020
We explore the dynamics of demand for n designs of a good when agents have preferences for (anti-)conformity. Agents …
Persistent link: https://www.econbiz.de/10012853696
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Preferences under ignorance
Gossner, Olivier; Kuzmics, Christoph - 2015
A decision maker (DM) makes choices from different sets of alternatives. The DM is initially fully ignorant of the payoff associated to each alternative, and learns these payoffs only after a large number of choices have been made. We show that, in the presence of an outside option once payoffs...
Persistent link: https://www.econbiz.de/10011348262