Determinants of real decision making on productive components of consumption under the current economic conditions of the Slovak Republic

Abstract

The aim of the contribution is to determine the main determinants of the formation of their productive components in consumption under the real conditions of the selected country, using the decision-making mechanism of the individual and of the households. The benefit of the article is in particular applied bonding and verification of the relation between the current theories and the practice that is realized through a questionnaire survey. By recognizing these determinants the partial decision-making issues will be clarified and it will open the space for the eventual desired behavior of household behavior in specific Slovak Republic conditions. The conclusions of the article point out that household decision-making is influenced by several factors in parallel, but psychological factors play a very important role. It is clear from the conclusions that Slovak households, by their decision, confirm theories of behavioral economists even when deciding on productive components in consumption.

Keywords

• Productive components of consumption
• Rational decisionmaking
• Irrational decision-making
• Quality of life
• Determinants of consumption