KRAJINA, Anida and Vildana KARALIĆ. Drivers of Consumer Decision Making - Comparative Analysis of Behavioral and Neuroeconomics Models. In Bilgin, MH; Danis, H; Demir, E; Can, U. REGIONAL STUDIES ON ECONOMIC GROWTH, FINANCIAL ECONOMICS AND MANAGEMENT. CHAM, SWITZERLAND: SPRINGER INTERNATIONAL PUBLISHING AG, 2017, p. 391-400. ISBN 978-3-319-54112-9. Available from: https://dx.doi.org/10.1007/978-3-319-54112-9_25.
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Basic information
Original name Drivers of Consumer Decision Making - Comparative Analysis of Behavioral and Neuroeconomics Models
Authors KRAJINA, Anida and Vildana KARALIĆ.
Edition CHAM, SWITZERLAND, REGIONAL STUDIES ON ECONOMIC GROWTH, FINANCIAL ECONOMICS AND MANAGEMENT, p. 391-400, 10 pp. 2017.
Publisher SPRINGER INTERNATIONAL PUBLISHING AG
Other information
Original language English
Type of outcome Proceedings paper
Field of Study 50202 Applied Economics, Econometrics
Country of publisher Turkey
Confidentiality degree is not subject to a state or trade secret
Publication form storage medium (CD, DVD, flash disk)
WWW URL
Organization unit Faculty of Economics and Administration
ISBN 978-3-319-54112-9
ISSN 2364-5067
Doi http://dx.doi.org/10.1007/978-3-319-54112-9_25
UT WoS 000424822700025
Keywords in English Consumer Behavior Behavioral Models Neuroeconomics Decision Making
Tags International impact
Changed by Changed by: Mgr. Pavlína Kurková, učo 368752. Changed: 19/5/2022 16:12.
Abstract
When making choices, more precisely purchase decision making, the consumers are everything but rational. Behavioral economics is the whole science dedicated to examining this phenomenon. Freud has constructed the model that reveals the inner motivators for decisions, including the purchasing one as well. However, behavioral models are not solely enough as the practice proved that consumers’ brains are much more complex than it was initially thought. There is always a good chance that habits will fail and inconsistencies in the way consumer process information will be undone for the simple reason- presence of emotions. That is highly consistent with the fact that humans are not rational creatures only and are not governed by reason in any decision making process. This gives the ground for more enhanced research on decision making and introducing neurological aspects. Skeptical or not, nowadays there are inventions of this neuraleconomics combination that tend to be widely spread. Another suggestion that goes as an advantage of neuroeconomics is that when used in different direction, it can lead to the search and choice of an appropriate empirical model.
Links
MUNI/A/1021/2015, interní kód MUName: Behaviorálně ekonomické experimenty v marketingu a managementu
Investor: Masaryk University, Category A
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