The Influence of Behavioral Biases in Economics on Residents’ Decisions

Yu Wang ()
Additional contact information
Yu Wang: Jinan Thomas School

A chapter in Proceedings of the 2024 2nd International Conference on Economic Management, Financial Innovation and Public Service (EMFIPS 2024), 2025, pp 603-614 from Springer

Abstract: Abstract This article studies the influence of behavioral biases in behavioral economics on residents’ decisions through questionnaire surveys and data analysis. The study finds that consumers prefer benefit-oriented promotion methods such as discount ratios and prominent digital forms of benefits in shopping decisions. Investors show dependence on historical profit and loss data in stock trading and tend to buy profitable products and sell loss-making products, reflecting the behavioral characteristic of loss aversion. In terms of risk choice, most consumers show risk aversion, while a small number show risk preference. The research results indicate that residents’ consumption and investment decisions are influenced by various behavioral biases, providing empirical evidence for the optimization of enterprise marketing and investment strategies.

Keywords: Behavioral bias; decision preference; consumption behavior; investment decision; risk preference (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-706-9_54

Ordering information: This item can be ordered from
http://www.springer.com/9789464637069

DOI: 10.2991/978-94-6463-706-9_54

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().