THE CONSUMPTION DECISION AT THE CROSSROADS BETWEEN STANDARD ECONOMICS AND BEHAVIOURAL ECONOMICS1

Ileana-Andra Marculesc ()
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Ileana-Andra Marculesc: PhD Candidate, Romanian Academy, School of Advanced Studies, Department of Economic, Social and Juridical Sciences

THE YEARBOOK OF THE "GH. ZANE" INSTITUTE OF ECONOMIC RESEARCHES, 2016, vol. 25, issue 1, 19-32

Abstract: Standard economics considers the consumer as being a rational human being, who makes one-dimensional decisions – minimum effort (cost), maximum effect (value, satisfaction). Using a multidisciplinary approach, behavioural economics intends (and succeeds to a large extent) to study the concrete means by which people make decisions every day, questioning the postulates of traditional economics, and adding decision-making models taken from complementary scientific disciplines

Keywords: standard economics; behavioural economics; consumer; consumption decision (search for similar items in EconPapers)
Date: 2016
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