Conventional economic theory assumes that consumers are fully rational, that they have well-defined preferences and easily understand the market environment. Yet, in fact, consumers may have ...inconsistent, context-dependent preferences, or simply not enough brain-power to evaluate and compare complicated products. Thus the standard model of consumer behavior-which depends on an ideal market in which consumers are boundlessly rational--is called into question. While behavioral economists have for some time confirmed and characterized these inconsistencies, the logical next step is to examine the implications they have in markets. Grounded in key observations in consumer psychology, Bounded Rationality and Industrial Organization develops non-standard models of "boundedly rational" consumer behavior and embeds them into familiar models of markets. It then rigorously analyses each model in the tradition of microeconomic theory, leading to a richer, more realistic picture of consumer behavior. Ran Spiegler analyses phenomena such as exploitative price plans in the credit market, complexity of financial products and other obfuscation practices, consumer antagonism to unexpected price increases, and the role of default options in consumer decision making. Spiegler unifies the relevant literature into three main strands: limited ability to anticipate and control future choices, limited ability to understand complex market environments, and sensitivity to reference points. Although the challenge of enriching the psychology of decision makers in economic models has been at the frontier of theoretical research in the last decade, there has been no graduate-level, theory-oriented textbook to cover developments in the last 10-15 years. Thus, Bounded Rationality and Industrial Organization offers a welcome and crucial new understanding of market behavior-it challenges conventional wisdom in ways that are interesting and economically significant, and which in the end effect the well-being of all market participants. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/economicsfinance/9780195398717/toc.html
Rapid digitalization has led to the evolution of customer behaviour and for any business it has become imperative to understand customer behaviour in the digital world - Navigating the Digital ...Landscapeexplores a wide range of topics to help the reader harness the positive aspects of digital commerce and mitigate risks.
Abstract Investigations of the contribution of food costs to socioeconomic inequalities in diet quality may have been limited by the use of estimated (vs. actual) food expenditures, not accounting ...for where individuals shop, and possible reverse mediation between food expenditures and healthiness of food choices. This study aimed to explore the extent to which food expenditure mediates socioeconomic inequalities in the healthiness of household food choices. Observational panel data on take-home food and beverage purchases, including expenditure, throughout 2010 were obtained for 24,879 UK households stratified by occupational social class. Purchases of (1) fruit and vegetables and (2) less-healthy foods/beverages indicated healthiness of choices. Supermarket choice was determined by whether households ever visited market-defined high-price and/or low-price supermarkets. Results showed that higher occupational social class was significantly associated with greater food expenditure, which was in turn associated with healthier purchasing. In mediation analyses, 63% of the socioeconomic differences in choices of less-healthy foods/beverages were mediated by expenditure, and 36% for fruit and vegetables, but these figures were reduced to 53% and 31% respectively when controlling for supermarket choice. However, reverse mediation analyses were also significant, suggesting that 10% of socioeconomic inequalities in expenditure were mediated by healthiness of choices. Findings suggest that lower food expenditure is likely to be a key contributor to less-healthy food choices among lower socioeconomic groups. However, the potential influence of cost may have been overestimated previously if studies did not account for supermarket choice or explore possible reverse mediation between expenditure and healthiness of choices.
•Listeriosis can cause devastating outcomes in pregnant individuals.•Frozen vegetables are consumed without prior heating which is risky for listeriosis.•Lack of listeriosis knowledge was associated ...with uncooked vegetable consumption.•Consumer behavior supports the need for updated food safety guidance.
In recent years, there have been numerous recalls of frozen vegetable products due to Listeria monocytogenes contamination, which causes listeriosis. In pregnant women, listeriosis can cause miscarriage, stillbirth, and other serious complications. Manufacturing guidelines are created with the intention that frozen vegetables will be cooked prior to consumption. However, consumers may prepare and eat frozen vegetables without prior cooking. Therefore, it is necessary to assess behaviors that could be risky for L. monocytogenes exposure. A 10-question online survey was distributed to women between the ages of 18–54 to investigate frozen vegetable consumption behaviors. The prevalence of uncooked frozen vegetable consumption, reading preparation instructions, and listeriosis knowledge was assessed. Data were analyzed using logistic and ordered logit regression. Of 1,001 complete responses, 531 (53%) indicated that they consumed frozen vegetables in the past week, and of those 35.6% (n = 189) indicated that they consumed frozen vegetables without prior heating. Women who had not heard of listeriosis and had not read preparation instructions had significantly higher odds of uncooked frozen vegetable consumption (Odds Ratio (OR): 2.30, 95% Confidence Interval (CI): 1.48, 3.55; OR: 1.85, 95% CI: 1.13, 3.01, respectively). These results will guide future research on safe food handling practices for frozen vegetable products. The findings support the need for updating public health guidelines to include frozen vegetables as foods that are risky for listeriosis in pregnancy. Additionally, these findings have implications for future research to inform food policy governing labeling regulation on frozen vegetable products to reflect current consumer behavior.
Given the increasingly grave environmental crisis, governments and organizations frequently initiate sustainability interventions to encourage sustainable behavior in individual consumers. However, ...prevalent behavioral approaches to sustainability interventions often have the unintended consequence of generating consumer resistance, undermining their effectiveness. With a practice–theoretical perspective, the authors investigate what generates consumer resistance and how it can be reduced, using consumer responses to a nationwide ban on plastic bags in Chile in 2019. The findings show that consumer resistance to sustainability interventions emerges not primarily because consumers are unwilling to change their individual behavior—as the existing literature commonly assumes—but because the individual behaviors being targeted are embedded in dynamic social practices. When sustainability interventions aim to change individual behaviors rather than social practices, they place excessive responsibility on consumers, unsettle their practice-related emotionality, and destabilize the multiple practices that interconnect to shape consumers’ lives, ultimately leading to resistance. The authors propose a theory of consumer resistance in social practice change that explains consumer resistance to sustainability interventions and ways of reducing it. They also offer recommendations for policy makers and social marketers in designing and managing sustainability initiatives that trigger less consumer resistance and thereby foster sustainable consumer behavior.
Why do pro-environmental consumers not always make pro-environmental purchases? Little research exists on the role of purchase situations (Belk, 1975). This study analyzes whether purchase situation ...explains why customers' intentions do not always align with their pro-environmental purchase behavior. Carrington, Neville, and Whitwell's (2010) model, that proposes situational context plays a key role in altering the trajectory of good intentions as they transfer to actual behavior, is also employed. This study empirically tests, using Australian consumers (n=772), the effect of purchase situations on the disparity between intentions and purchase behavior. The results show that purchase situation moderates the intention–behavior relationship, and that time, price, willingness to drive long distances, availability, and ease of purchase influence the relationship. The findings have theoretical implications for understanding the factors that affect consumers' purchase behavior, and practical implications for how to realize pro-environmental consumer behavior.
The COVID-19 pandemic (that started in early 2020) is causing several disruptions in the short- and mid-term, to which businesses have to adapt. Some retailers have reacted to the emergency ...immediately, displaying a plethora of different intervention types. The authors aim to synthesize the challenges that retailers are facing during the COVID-19 emergency. We do this from the perspective of both consumers and managers, with the goal of providing guidelines on and examples of how retailers can handle this unprecedented situation.
This volume brings together the most innovative historical work on the conjoined themes of gender and consumption. In thirteen pioneering essays, some of the most important voices in the field ...consider how Western societies think about and use goods, how goods shape female, as well as male, identities, how labor in the family came to be divided between a male breadwinner and a female consumer, and how fashion and cosmetics shape women's notions of themselves and the society in which they live. Together these essays represent the state of the art in research and writing about the development of modern consumption practices, gender roles, and the sexual division of labor in both the United States and Europe.
Covering a period of two centuries, the essays range from Marie Antoinette's Paris to the burgeoning cosmetics culture of mid-century America. They deal with topics such as blue-collar workers' survival strategies in the interwar years, the anxieties of working-class consumers, and the efforts of the state to define women's—especially wives' and mothers'—consumer identity. Generously illustrated, this volume also includes extensive introductions and a comprehensive annotated bibliography. Drawing on social, economic, and art history as well as cultural studies, it provides a rich context for the current discourse around consumption, particularly in relation to feminist discussions of gender.
PDF
