Good news! Behavioral economics is not going away anytime soon
Abstract
Purpose
The purpose of this paper is to defend the fast emerging field of behavioral economics which, like marketing, does not require that consumers be rational and, also like marketing, draws on multiple disciplines to answer research questions on consumers' economic behavior.
Design/methodology/approach
The paper presents recent work showing how behavioral economists are posing interesting and significant questions and answering them in novel ways.
Findings
The basic finding is that behavioral economics has already developed a rich research tradition. It has made a major contribution to understanding economic behavior. It will not soon disappear.
Originality/value
The value in this paper is in demonstrating that there are multiple approaches to understanding consumers' pricing behavior.
Keywords
Citation
Cox, D. (2005), "Good news! Behavioral economics is not going away anytime soon", Journal of Product & Brand Management, Vol. 14 No. 6, pp. 375-378. https://doi.org/10.1108/10610420510624521
Publisher
:Emerald Group Publishing Limited
Copyright © 2005, Emerald Group Publishing Limited