Behavioral Economics and the Analysis of Consumption and Choice

Steven R. Hursh, Peter G. Roma

Research output: Contribution to journalArticle

Abstract

Behavioral economics (BE) in psychology focuses on the application of traditional microeconomics concepts to the study of behavior, particularly the cross-species analysis of consumption broadly defined and choice. Here, we review key concepts such as demand, substitution, and complementarity within a behavioral psychology framework, novel behavioral economics analysis techniques for quantifying demand elasticity and patterns of choice behaviors, and broader implications for organizational decision-making and empirical public policy.

Original languageEnglish (US)
JournalManagerial and Decision Economics
DOIs
StateAccepted/In press - 2015

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ASJC Scopus subject areas

  • Business and International Management
  • Management of Technology and Innovation
  • Strategy and Management
  • Management Science and Operations Research

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