Which Mission? Thoughts About the Past and Future of BDT

Norbert Schwarz

Journal of Marketing Behavior, 2015, vol. 1, issue 1, 53-58

Abstract: The behavioral decision theory (BDT) research of the last few decades addressed a big and important question, the limits of human rationality, but did so in an effect-focused way that many observers considered a serious limitation. Simonson’s (this issue) retrospective suggests that this limitation reflects a narrowly defined mission that privileged the falsification of economists’ rationality assumptions over an understanding of the processes underlying the observed phenomena. Future BDT research has the opportunity to overcome this limitation by conceptualizing BDT findings, and the marketing-centric questions Simonson poses, within the context of what else we know about the human mind.

Date: 2015
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