This paper attempts to summarize and integrate some recent economic theories of consumer behavior based on demand for underlying characteristics of goods. The implications of these theories for ...

While the psychology of consumer behavior would veer off into a number of different directions in the 1950s, its core remained psychoanalytic theory brought over from Europe in the 1930s. Nothing ...

Von Neumann-Morgenstern utility theory is a promising method to measure and model consumer preference. Its theoretical foundations provide explicit risk measures and testable behavioral conditions for ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Robert Kelly is managing director of ...

Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues ...

Forbes contributors publish independent expert analyses and insights. Startup founder in retail tech. The mystery of the human condition has puzzled poets and writers for millennia, yet modern ...

An economist used gasoline purchasing data to show how consumers make buying decisions when prices jump at the pump. When gas prices went up people behaved as if they were much poorer, buying cheaper ...

Regret theory postulates that decision‐makers do not solely evaluate outcomes based on traditional expected utility; they also incorporate the anticipated emotional response resulting from realising ...