Rational Consumer Behavior and Its Importance for Real and Simulated Business Environment

Gabriela Gheorghiu ()

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 2, 503-508

Abstract: Whether they operate in a real or simulated business environment, the success of economic activity undertaken by producers/traders depends on understanding the behavior of current and potential customers, by studying the mechanism by which they take consumer decisions under the influence of internal and external factors whose divergence or convergence may affect the quality of their satisfaction. Orthodox vision on the consumer looked upon as a rational economic agent, often criticized for its limits, has been repeatedly improved, demonstrating the attraction force induced by its validity in the individuals’ daily life.

Keywords: rationality; rational consumer; demand; efficiency (search for similar items in EconPapers)
JEL-codes: D11 (search for similar items in EconPapers)
Date: 2011
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Related works:
Journal Article: Irational Consumer Behavior and Its Importance for Real and Simulated Business Environment (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xi:y:2011:i:9:p:503-508

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