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The Consumption Decision At The Crossroads Between Standard Economics And Behavioural Economics1

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  • Ileana-Andra MARCULESC

    (PhD Candidate, Romanian Academy, School of Advanced Studies, Department of Economic, Social and Juridical Sciences)

Abstract

Standard economics considers the consumer as being a rational human being, who makes one-dimensional decisions – minimum effort (cost), maximum effect (value, satisfaction). Using a multidisciplinary approach, behavioural economics intends (and succeeds to a large extent) to study the concrete means by which people make decisions every day, questioning the postulates of traditional economics, and adding decision-making models taken from complementary scientific disciplines

Suggested Citation

  • Ileana-Andra MARCULESC, 2016. "The Consumption Decision At The Crossroads Between Standard Economics And Behavioural Economics1," THE YEARBOOK OF THE "GH. ZANE" INSTITUTE OF ECONOMIC RESEARCHES, Gheorghe Zane Institute for Economic and Social Research ( from THE ROMANIAN ACADEMY, JASSY BRANCH), vol. 25(1), pages 19-32.
    • Handle: RePEc:zan:ygzier:v:25:y:2016:i:1:p:19-32
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    References listed on IDEAS

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    1. Veblen, Thorstein, 2009. "The Theory of the Leisure Class," OUP Catalogue, Oxford University Press, number 9780199552580 edited by Banta, Martha.
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