Research on Consumer Behavior Based on the Perspective of Behavioral Economics
- 10.2991/assehr.k.211209.054How to use a DOI?
- Behavioral economics; consumer; consumer behavior; mental account theory; prospect theory
Consumers’ rational behaviors usually only exist in the premises and assumptions of various traditional economics. On the contrary, consumer behaviors that are regulated as abnormal or irrational by traditional theories often appear in actual consumption activities. At present, in order to better study consumer behavior in reality, behavioral economics is an indispensable tool. Taking behavioral economics as a perspective, this article mainly focuses on irrational decision-making. It studies various theoretical results of behavioral economics, especially how prospect theory and mental account theory affect consumer behavior, and gives a strong operability and Realistic marketing strategies and marketing suggestions. Prospect theory mainly studies how consumers face the uncertainty of choice, and consumers are more sensitive to losses than gains. The main result of the anchoring effect is the understanding that consumers may make wrong decisions due to the influence of the reference point. Mental account theory explains the classification methods of consumer internal accounts with different bookkeeping methods and calculation forms. Consumers’ behavior will be affected by multiple effects, so companies also need to consider multi-faceted marketing strategies at the same time.
- © 2021 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Litao Xu AU - Xinzhou Shen PY - 2021 DA - 2021/12/15 TI - Research on Consumer Behavior Based on the Perspective of Behavioral Economics BT - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) PB - Atlantis Press SP - 316 EP - 320 SN - 2352-5428 UR - https://doi.org/10.2991/assehr.k.211209.054 DO - 10.2991/assehr.k.211209.054 ID - Xu2021 ER -