Behavioral Economics

Victor J. Tremblay and Carol Horton Tremblay
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Victor J. Tremblay: Oregon State University
Carol Horton Tremblay: Oregon State University

Chapter Chapter 4 in New Perspectives on Industrial Organization, 2012, pp 101-119 from Springer

Abstract: Abstract In the previous chapters we discussed introductory consumer, producer, and game theory. There, consumers and producers are assumed to be perfectly rational, meaning that they act to achieve a goal given their constraints. In particular, consumers obtain the most beneficial combination of products that they can afford, and firms produce the amount of their product that gives them the highest profit based on consumer demand, technological conditions, and rival behavior.

Keywords: Loss Aversion; Cognitive Dissonance; Behavioral Economic; Framing Effect; Confirmation Bias (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-1-4614-3241-8_4

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DOI: 10.1007/978-1-4614-3241-8_4

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