Author: Johnny Ch LOK

Publisher:

Published: 2017-07-30

Total Pages: 519

ISBN-13: 9781521974322

The second part concerns how to explain what behavioral economy means and how to apply behavioral economy method to predict consumer behavior. Behavioral economics can provide more realistic psychological foundations. This part is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision. In second part, it shall indicate how the process of behavioral economic field develops, then I shall show what methods are used to measure behavioral economy. Next, I shall indicate what the main two categories of behavioral economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close In summary, standard economic theories assume that consumers are rational and self- interested. However, behavioral economic theories assumes that psychology shows who are not rational usually. I shall indicate how consumer's psychological decision to choose their behavioral consumption in actual life environment for underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises. Some consumption of these enterprises evidences also show that consumer individual irrationality , these enterprises have predictable features in these enterprises consumption situation I shall use these enterprises to explain why behavioral economy can make economic predictions more accurate by using these enterprises' consumption evidences on their predictable irrational behavior to these enterprises. Although, these global enterprises' market competition is serious, consumers may be expected to learn to reduce irrational behavior over time, these processes may not work well and may take. You can read these underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to make judgement why behavioral economic model is more accurate to predict consumer behavior to compare standard economic model.In this part, I shall indicate underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. Thus, if company or individual businessman can predict labor psychology or client psychological consumption behavior. Then, which can have more confidence to attract more clients or reduce labor turnover. This book is suitable to any economists or policy makers or individual consumption makers or students or businessmen who have interest to learn how to apply behavioral economy methods to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.Finally, in part three, I shall explain why to apply either behavioral economy or psychological method to predict as above sample cases which is more suitable to predict consumer behavior.I wrote this book for several reasons. I want to give my opinions to let businessmen to know how to apply psychological method or behavioral economic method to predict consumer behavior. Psychological method prediction is concentrated on consumer individual emotion, such as between salespeople and customers contact in one shop. Otherwise, behavioral economic method prediction is concentrated on serving consumers in public service industry, e.g. education, transportation, entertainment etc. public service businesses.