Economics Dictionary of ArgumentsHome
| |||
|
| |||
| Consumer behavior: Consumer behavior in economics studies how individuals make decisions to allocate their income among various goods and services. It examines preferences, budget constraints, and choices to understand demand patterns, using tools like utility theory and indifference curves. See also Markets, Trade, Consumer’s Sovereignty, Advertising, Marketing, Decisions, Indifference curve._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Concept | Summary/Quotes | Sources |
|---|---|---|---|
|
Armen A. Alchian on Consumer Behavior - Dictionary of Arguments
Henderson I 94 Consumer Behavior/Alchian/Henderson/Globerman: People who persist in indulging inefficient biases will not necessarily “perish,” but will likely enjoy a lower material and non-material standard of living than their peers who, by accident or design, make “better” decisions. Some of the former will be motivated to imitate the latter’s behaviours much as individual inefficient businesses will try to imitate the initiatives of innovative and prospering firms. Cf. >Economic success/Alchian, >Behavioral economics/Thaler, >Endowment effect, >Over-optimism/Optimism bias._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Alchian I Armen A. Alchian William R. Allen Exchange and Production: Competition, Coordination and Control Belmont, CA: Wadsworth 1977 Henderson I David R. Henderson Steven Globerman The Essential UCLA School of Economics Vancouver: Fraser Institute. 2019 |
||
Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
