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  2. Behavioral economics - Wikipedia

    en.wikipedia.org/wiki/Behavioral_economics

    Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. [1] [2] Behavioral economics is primarily concerned with the bounds of rationality of economic ...

  3. Purchasing power - Wikipedia

    en.wikipedia.org/wiki/Purchasing_power

    So, by definition, the purchasing power of a dollar decreases as the price level rises. Adam Smith used an hour's labour as the purchasing power unit, so value would be measured in hours of labour required to produce a given quantity (or to produce some other good worth an amount sufficient to purchase the same). [citation needed]

  4. Biology and consumer behaviour - Wikipedia

    en.wikipedia.org/wiki/Biology_and_consumer_behaviour

    Consumer behaviour is the study of the motivations surrounding a purchase of a product or service. It has been linked to the field of psychology, [1] sociology [2] and economics [3] in attempts to analyse when, why, where and how people purchase in the way that they do.

  5. Psychophysiological economics - Wikipedia

    en.wikipedia.org/wiki/Psychophysiological_economics

    Psychophysiological economics differs from behavioral economics by focusing on direct measures of physiological change and observational data, in addition to attitudinal measurement. Psychophysiological economics also differs from functional magnetic resonance imaging , which is typically applied exclusively to the study of brain activity.

  6. Conspicuous consumption - Wikipedia

    en.wikipedia.org/wiki/Conspicuous_consumption

    These assumptions, required for the development of a general theory of brand selection and brand purchase, are problematic, because the resultant theories tend either to misunderstand or to ignore the "irrational" element in the behaviour of the buyer-as-consumer; and because conspicuous consumption is a behaviour predominantly "psychological ...

  7. Consumer behaviour - Wikipedia

    en.wikipedia.org/wiki/Consumer_behaviour

    Consumer behaviour is the study of individuals, groups, or organisations and all activities associated with the purchase, use and disposal of goods and services.It encompasses how the consumer's emotions, attitudes, and preferences affect buying behaviour.

  8. Buyer decision process - Wikipedia

    en.wikipedia.org/wiki/Buyer_decision_process

    Nobel laureate Herbert A. Simon sees economic decision-making as a vain attempt to be rational. Simon claimed (in 1947 and 1957) that if a complete analysis is to be done, a decision will be immensely complex. Simon also wrote that peoples' information processing ability is limited. The assumption of a perfectly rational economic actor is ...

  9. Behavioral game theory - Wikipedia

    en.wikipedia.org/wiki/Behavioral_game_theory

    Behavioral game theory analyzes interactive strategic decisions and behavior using the methods of game theory, [2] experimental economics, and experimental psychology. Experiments include testing deviations from typical simplifications of economic theory such as the independence axiom [3] and neglect of altruism, [4] fairness, [5] and framing ...