Behavioral Economics and Consumption

Lucia A. Reisch; Cass R. Sunstein

doi:10.1002/9781118989463.wbeccs255

Behavioral Economics and Consumption

Lucia A. Reisch, Cass R. Sunstein

Harvard University

Research output: Chapter in Book/Report/Conference proceeding › Encyclopedia chapter › Research › peer-review

Abstract

Behavioral economics explores why people sometimes fail to make rational decisions, and how their behavior departs from the predictions of standard economic models. Insights gained from studies in behavioral economics are used in consumer research and consumer policy to understand and improve individuals' decisions about health, wealth, and happiness.

Original language	English
Title of host publication	The Wiley Blackwell Encyclopedia of Consumption and Consumer Studies
Editors	Daniel Thomas Cook, J. Michael Ryan
Place of Publication	Chichester
Publisher	Wiley
Publication date	2015
Pages	41-44
ISBN (Print)	9780470672846
ISBN (Electronic)	9781118989463
DOIs	https://doi.org/10.1002/9781118989463.wbeccs255
Publication status	Published - 2015

Keywords

Consumption
Decision making
Psychology
Policy
Politics

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Cite this

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KW - Policy

KW - Politics

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