CONSUMER’S BEHAVIOUR – AN APPROACH FROM THE PERSPECTIVE OF BEHAVIOURAL ECONOMICS

Abstract

The consumer and his behaviour have concerned all economists, no matter if they are theoreticians or practitioners. Naturally, research in the domain has revealed new aspects, new theories and has led to the creation of schools of thought in time. Standard or neo-classic economics, which lays stress on absolute rationality, the maximization of results, modelling etc., cannot wholly decipher economic mechanisms or efficiently explain and guide the economic life of society. That is why, if we take as a starting point the observation that man lies at the heart of economy, we understand that the attempts to explain his role and the manner in which he behaves in economic life are more and more numerous and involve the use of concepts from different domains of study: psychology, sociology, etc. The present study aims at analysing the consumer’s behaviour from a perspective which already has a consistent and well-outlined profile in the economic science and is known as behavioural economics.

Keywords

• standard economics
• limited rationality
• consumer’s behaviour
• behavioural economics.