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The proponents of the traditional theories believe that "investors should just own the entire market rather than attempting to outperform the market". Behavioral finance has emerged as an alternative to these theories of traditional finance and the behavioral aspects of psychology and sociology are integral catalysts within this field of study ...
Opportunism is regarded as unhealthy, as a disorder or as a character deficiency, if selfishly pursuing an opportunity is blatantly anti-social (involves disregard for the needs, wishes and interests of others). However, behavior can also be regarded as "opportunist" by scholars without any particular moral evaluation being made or implied ...
The consumer is seen to maximize its utility. See consumer theory. Game theory can also be used in some circumstances. Psychological models – psychological and cognitive processes such as motivation and need recognition. They are qualitative rather than quantitative and build on sociological factors like cultural influences and family influences.
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.
A sociological theory is a supposition that intends to consider, analyze, and/or explain objects of social reality from a sociological perspective, [1]: 14 drawing connections between individual concepts in order to organize and substantiate sociological knowledge.
In sociology, social psychology (also known as sociological social psychology) studies the relationship between the individual and society. [1] [2] Although studying many of the same substantive topics as its counterpart in the field of psychology, sociological social psychology places relatively more emphasis on the influence of social structure and culture on individual outcomes, such as ...
There are two social psychology principles that work with scarcity that increase its powerful force. One is social proof . This is a contributing factor to the effectiveness of scarcity because if a product is sold out, or inventory is extremely low, humans interpret that to mean the product must be good since everyone else appears to be buying it.
Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. [1]