The irrational consumer: Decision making based on feelings rather than facts
Monday, December 3, 2018 - 16:50
in Psychology & Sociology
Risk and benefit perceptions are crucial to people's acceptance of a particular technology and therefore their willingness to become a consumer. It has been suggested that, due to resource restraints, consumers' perceptions are frequently formed based on heuristics and biases, or other factors such as trust or affect. While some consumer behaviors may seem irrational, their actions are actually quite predictable based on heuristics.