IDEAS home Printed from https://ideas.repec.org/h/spr/mgmchp/978-3-658-45798-3_22.html
   My bibliography  Save this book chapter

Behavioral Economics and CRM: Improved Prediction of Customer Behavior

In: CRM Goes Digital

Author

Listed:
  • Herbert Bucheli

    (Viseca Payment Services SA)

Abstract

Behavioral economics is a research field that studies decision-making behavior in real decision-making situations. Our decisions are not always as rational as we believe; very often they are irrational, i.e., they contradict the predictions of the standard model of homo economicus. However, there are also generally valid patterns behind irrational behavior, meaning that irrational decision-making behavior can also be predicted. This chapter provides a brief overview of behavioral economics and links its approaches with predictive modeling methods. This enables the modeling and forecasting of customer behavior in new decision-making situations, such as the acceptance of new products or services, and thus helps to derive optimal courses of action.

Suggested Citation

  • Herbert Bucheli, 2025. "Behavioral Economics and CRM: Improved Prediction of Customer Behavior," Management for Professionals, in: Sabine Kirchem & Martin Stadelmann & Mario Pufahl & David Laux (ed.), CRM Goes Digital, pages 291-302, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-658-45798-3_22
    DOI: 10.1007/978-3-658-45798-3_22
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    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:spr:mgmchp:978-3-658-45798-3_22. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.