Economics And Consumer Behavior

For advanced courses in economic analysis, this book presents the economic theory of consumer behavior, focusing on the applications of the theory to welfare economies and econometric analysis.

This volume presents selected articles from the 21st Eurasia Business and Economics Society (EBES) Conference, which was held in Budapest (Hungary) in 2017. The theoretical and empirical papers in this volume cover various areas of business, economics, and finance from a diverse range of regions. In particular, this volume focuses on the latest trends in consumer behavior, new questions in the development of organizational strategy, and the interaction of financial economics with industrial economics and policy.

From identity theft to product recalls, from what we once thought of as unshakeable institutions to increasing concerns about sustainability, consumer issues are an integral part of modern life. This fully updated third edition of Consumer Economics offers students an accessible and thorough guide to the concerns surrounding the modern consumer and brings to light the repercussions of making uninformed decisions in today’s economy. This definitive textbook introduces students to these potential issues and covers other key topics including consumer behavior, personal finance, legal rights and responsibilities, as well as marketing and advertising. Combining theory and practice, students are introduced to both the fundamentals of consumer economics and how to become better-informed consumers themselves. Highlights in this new edition include: New Critical Thinking Projects feature to encourage students to develop their critical thinking skills through analysing consumer issues. Expanded coverage of social media and the impact of social influence on consumers. Revised Consumer Alerts: practical advice and guidance for students to make smart consumer decisions. A new Companion Website with a range of presentation materials and exercises related to each chapter. Fully updated throughout, this textbook is suitable for students studying consumer sciences – what works, what doesn’t, and how consumers are changing.

A Crash Course in the Study of Production and Consumption! Too often, textbooks turn the noteworthy details of economics into tedious discourse that would put even Joseph Stiglitz to sleep. Economics 101 cuts out the boring explanations, and instead provides a hands-on lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit. From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else. So whether you're looking to master the major principles of finance, or just want to learn more about why money matters, Economics 101 has all the answers--even the ones you didn't know you were looking for.

A classic treatise that defined the field of applied demand analysis, Consumer Demand in the United States: Prices, Income, and Consumption Behavior is now fully updated and expanded for a new generation. Consumption expenditures by households in the United States account for about 70% of America’s GDP. The primary focus in this book is on how households adjust these expenditures in response to changes in price and income. Econometric estimates of price and income elasticities are obtained for an exhaustive array of goods and services using data from surveys conducted by the Bureau of Labor Statistics and aggregate consumption expenditures from the National Income and Product Accounts, providing a better understanding of consumer demand. Practical models for forecasting future price and income elasticities are also demonstrated. Fully revised with over a dozen new chapters and appendices, the book revisits the original Houthakker-Taylor models while examining new material as well, such as the use of quantile regression and the stationarity of consumer preference. It also explores the emerging connection between neuroscience and consumer behavior, integrating the economic literature on demand theory with psychology literature. The most comprehensive treatment of the topic to date, this volume will be an essential resource for any researcher, student or professional economist working on consumer behavior or demand theory, as well as investors and policymakers concerned with the impact of economic fluctuations.

This book is an essential resource exploring the concepts, theories and methods in consumer behavior specifically applicable to the food and drink sector. Drawing examples from all continents, it provides accessible coverage and a truly global perspective of the particular characteristics of this industry. It offers clear explanations and applications of theoretical concepts, using specialized case studies and examples; features an introduction, learning objectives and summary in each chapter to hone your reading and revision; and provides you with companion online material including lecture slides, notes and self-assessment questions. This important new book is the perfect guide for students studying consumer behavior or experience in food and drink as part of courses in agricultural or agribusiness management and economics, hospitality and tourism, business studies, food science and nutrition, or generic marketing and consumer studies.

With the increasing prevalence of information, communication, and technology, including social media, in the digital economy, leveraging consumer behavior and psychology has become a dominant ground for researchers and practitioners to inspect the trends, opportunities, and challenges to social networking service (SNS) developers and online firms. These platforms have become a key channel for social interactions and networking among individuals and online communities to leverage business activities in respect to product and service visibility and sustainability via the internet. Leveraging Consumer Behavior and Psychology in the Digital Economy is a pivotal reference source that provides current research on topics relevant to consumer behavior, consumer psychology, consumer value, customer satisfaction, and loyalty and how best to utilize this research consumer behavior and psychology in the digital economy. Emphasizing critical topics in the field of consumer behavior research, this publication is a wide-ranging resource for professionals, practitioners, marketers, retailers, business managers, academics, researchers, and graduate-level students interested in the latest material on consumer behavior and psychology in the digital economy.

Handbook of U.S. Consumer Economics presents a deep understanding on key, current topics and a primer on the landscape of contemporary research on the U.S. consumer. This volume reveals new insights into household decision-making on consumption and saving, borrowing and investing, portfolio allocation, demand of professional advice, and retirement choices. Nearly 70% of U.S. gross domestic product is devoted to consumption, making an understanding of the consumer a first order issue in macroeconomics. After all, understanding how households played an important role in the boom and bust cycle that led to the financial crisis and recent great recession is a key metric. Introduces household finance by examining consumption and borrowing choices Tackles macro-problems by observing new, original micro-data Looks into the future of consumer spending by using data, not questionnaires