Social Psychology And Marketing: The Consumption Game. Understanding Marketing And Consumer Behavior Through Game Theory

Catalina Butnaru
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Catalina Butnaru: Postgraduate student, SNSPA

Review of Economic and Business Studies, 2009, issue 4, 165-184

Abstract: Consumer psychology provides enough evidence that consumer behavior is not just one side of our existence, but, as a matter of fact, it is a central dimension of our everyday lives, engaging us into changing and defining our identity, beliefs, attitudes and practices. In relation to this, commodification has reached us on all levels: everything that people created, produced and developed over the years, during the post-industrial era, can be commodified and sold to a specific market. Commodification and increased consumption are crossing the line between values and needs, production and creation, identity and capital accumulation, thus making people constantly expecting a payoff while engaging in social, cultural and economic transactions. In this article we argue that we can use the models of game theory to understand socio-economic phenomena such as consumption, B2C marketing and market dynamics.

Keywords: Game Theory; consumer behaviour; commodification; decision theory; marketing (search for similar items in EconPapers)
JEL-codes: C7 C91 M31 (search for similar items in EconPapers)
Date: 2009
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