IDEAS home Printed from https://ideas.repec.org/a/pts/journl/y2020i2p3-8.html
   My bibliography  Save this article

Crisis, Uncertainty, Risk And Consumer Behavior: A Psycho-Economic Approach

Author

Listed:
  • Mihaela DIACONU

    (Faculty of Economics and Law, University of Pitesti, Romania)

  • Amalia DUTU

    (Faculty of Economics and Law, University of Pitesti, Romania)

Abstract

Quality of life has become in recent decades a concept approached as an important interface between many disciplines, such as economics, sociology, geography and medical science. Consumer behavior, an illustrative factor of quality of life is a complex process and is often not considered rational. Under current conditions, predicting consumer behavior is essential as all marketing decisions are based on their characteristics. The paper aims to highlight several specialized studies related to consumer behavior in crisis conditions in order to guide marketing decisions in special conditions, different from normal.

Suggested Citation

  • Mihaela DIACONU & Amalia DUTU, 2020. "Crisis, Uncertainty, Risk And Consumer Behavior: A Psycho-Economic Approach," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 19(2), pages 3-8.
    • Handle: RePEc:pts:journl:y:2020:i:2:p:3-8
    as

    Download full text from publisher

    File URL: http://economic.upit.ro/repec/pdf/2020_2_1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kaveh Peighambari & Setayesh Sattari & Arash Kordestani & Pejvak Oghazi, 2016. "Consumer Behavior Research," SAGE Open, , vol. 6(2), pages 21582440166, April.
    2. Dietrich, Franz & List, Christian, 2009. "A reason-based theory of rational choice," MPRA Paper 36112, University Library of Munich, Germany, revised 2011.
    3. Jana Cahlíková & Lubomír Cingl, 2017. "Risk preferences under acute stress," Experimental Economics, Springer;Economic Science Association, vol. 20(1), pages 209-236, March.
    4. Lelia Voinea & Alina Filip, 2011. "Analyzing the Main Changes in New Consumer Buying Behavior during Economic Crisis," International Journal of Economic Practices and Theories, Academy of Economic Studies - Bucharest, Romania, vol. 1(1), pages 14-19, July.
    5. Hannah Schildberg-Hörisch, 2018. "Are Risk Preferences Stable?," Journal of Economic Perspectives, American Economic Association, vol. 32(2), pages 135-154, Spring.
    6. Berkman, Lisa F. & Glass, Thomas & Brissette, Ian & Seeman, Teresa E., 2000. "From social integration to health: Durkheim in the new millennium," Social Science & Medicine, Elsevier, vol. 51(6), pages 843-857, September.
    7. Nigel Nicholson & Emma Soane & Mark Fenton-O'Creevy & Paul Willman, 2005. "Personality and domain-specific risk taking," Journal of Risk Research, Taylor & Francis Journals, vol. 8(2), pages 157-176, March.
    8. Stavros Drakopoulos, 2008. "The paradox of happiness: towards an alternative explanation," Journal of Happiness Studies, Springer, vol. 9(2), pages 303-315, June.
    9. Pushan Dutt & V. Padmanabhan, 2011. "Crisis and Consumption Smoothing," Marketing Science, INFORMS, vol. 30(3), pages 491-512, 05-06.
    10. Lennart Sjöberg, 1998. "Worry and Risk Perception," Risk Analysis, John Wiley & Sons, vol. 18(1), pages 85-93, February.
    11. Wolff, Katharina & Larsen, Svein & Øgaard, Torvald, 2019. "How to define and measure risk perceptions," Annals of Tourism Research, Elsevier, vol. 79(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sören Harrs & Lara Marie Müller & Bettina Rockenbach, 2021. "How Optimistic and Pessimistic Narratives about COVID-19 Impact Economic Behavior," ECONtribute Discussion Papers Series 091, University of Bonn and University of Cologne, Germany.
    2. Walters, Gabby & Magor, Thomas & Kelly, Sarah & Wallin, Ann, 2022. "Cruising through a pandemic: Or not?," Annals of Tourism Research, Elsevier, vol. 97(C).
    3. Marco R Steenbergen & Tomasz Siczek, 2017. "Better the devil you know? Risk-taking, globalization and populism in Great Britain," European Union Politics, , vol. 18(1), pages 119-136, March.
    4. Drakopoulos, Stavros A., 2008. "The Concept Of Comparison Income: An Historical Perspective," MPRA Paper 8713, University Library of Munich, Germany.
    5. Lichner, Ivan & Lyócsa, Štefan & Výrostová, Eva, 2022. "Nominal and discretionary household income convergence: The effect of a crisis in a small open economy," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 18-31.
    6. Maria Pavlova & Rainer Silbereisen & Kamil Sijko, 2014. "Social Participation in Poland: Links to Emotional Well-Being and Risky Alcohol Consumption," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 117(1), pages 29-44, May.
    7. de Blasio, Guido & De Paola, Maria & Poy, Samuele & Scoppa, Vincenzo, 2018. "Risk Aversion and Entrepreneurship: New Evidence Exploiting Exposure to Massive Earthquakes in Italy," IZA Discussion Papers 12057, Institute of Labor Economics (IZA).
    8. Liping Ye & Xinping Zhang, 2021. "The association mechanism between social network types and health‐related behaviours among the elderly in rural Hubei Province, China," International Journal of Health Planning and Management, Wiley Blackwell, vol. 36(3), pages 826-846, May.
    9. Boissonnet, Niels & Ghersengorin, Alexis & Gleyze, Simon, 2020. "Revealed Deliberate Preference Changes," MPRA Paper 101756, University Library of Munich, Germany.
    10. Miranda L. Ritterman & S. Leonard Syme, 2009. "The importance of community development for health and well-being," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 3, pages 001-013.
    11. Monika Ardelt, 2016. "Disentangling the Relations Between Wisdom and Different Types of Well-Being in Old Age: Findings from a Short-Term Longitudinal Study," Journal of Happiness Studies, Springer, vol. 17(5), pages 1963-1984, October.
    12. Vivian Welch & Elizabeth Tanjong Ghogomu & Victoria I. Barbeau & Elisabeth Boulton & Sabrina Boutin & Niobe Haitas & Dylan Kneale & Douglas M. Salzwedel & Roger Simard & Paul Herbert & Christopher Mik, 2022. "PROTOCOL: Digital interventions to reduce social isolation and loneliness in older adults: An evidence and gap map," Campbell Systematic Reviews, John Wiley & Sons, vol. 18(3), September.
    13. Eibich, Peter & Goldzahl, Léontine, 2021. "Does retirement affect secondary preventive care use? Evidence from breast cancer screening," Economics & Human Biology, Elsevier, vol. 43(C).
    14. Sirven, Nicolas, 2006. "Endogenous social capital and self-rated health: Cross-sectional data from rural areas of Madagascar," Social Science & Medicine, Elsevier, vol. 63(6), pages 1489-1502, September.
    15. Vonneilich, Nico & Lüdecke, Daniel & von dem Knesebeck, Olaf, 2020. "Educational inequalities in self-rated health and social relationships – analyses based on the European Social Survey 2002-2016," Social Science & Medicine, Elsevier, vol. 267(C).
    16. Patricia A Thomas & Debra Umberson, 2018. "Do Older Parents’ Relationships With Their Adult Children Affect Cognitive Limitations, and Does This Differ for Mothers and Fathers?," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 73(6), pages 1133-1142.
    17. Caliendo, Marco & Cobb-Clark, Deborah A. & Obst, Cosima & Uhlendorff, Arne, 2023. "Risk preferences and training investments," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 668-686.
    18. Michael Daly & Liam Delaney & Séamus McManus, 2010. "Risk Attitudes as an Independent Predictor of Debt," Working Papers 201049, Geary Institute, University College Dublin.
    19. Chung-Wei Kuo, 2021. "Can We Return to Our Normal Life When the Pandemic Is under Control? A Preliminary Study on the Influence of COVID-19 on the Tourism Characteristics of Taiwan," Sustainability, MDPI, vol. 13(17), pages 1-17, August.
    20. Farrukh Muhammad & Ying Chong Wei & Mansori Shaheen, 2016. "Intrapreneurial behavior: an empirical investigation of personality traits," Management & Marketing, Sciendo, vol. 11(4), pages 597-609, December.

    More about this item

    Keywords

    Human behavior; Consumer behavior; Crisis situations; Conditions of risk.;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pts:journl:y:2020:i:2:p:3-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alina Hagiu (email available below). General contact details of provider: https://edirc.repec.org/data/fepitro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.