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Consumer decisionmaking: insights from behavioral economics

Wenhua Di and James Murdoch ()

Banking and Community Perspectives, 2010, issue 3

Abstract: The increased complexity of the financial markets has made it difficult for consumers to choose products that best serve their interests. Behavioral economists explore consumers' psychological process in making decisions, such as immediate gratification, overconfidence, inertia or a lack of cognitive ability to understand the costs and benefits of financial services.

Keywords: Consumer behavior; Financial literacy (search for similar items in EconPapers)
Date: 2010
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Handle: RePEc:fip:feddpe:y:2010:n:3