Download or read book Behavioral Economic Method Predicts Consumer And written by Johnny Ch LOK and published by . This book was released on 2019-09-28 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can bonus method encourage service performance to be raised ?In service job nature of bonus method can also raise employees' overall productivities or service performance. For example, when employees got a provisional bonus before the start of the workweek, but were warned that they would lose it on payday, unless they achieve the productivities or excellent service performance norm, they worked more productivities or let many clients to satisfy their service performance. Hence, managers can achieve bonus plan to compensate any excellent productivity or excellent services to them. Then, they can let clients to feel their service performance more satisfactory than employees of a control group who were merely given the standard promise to receive a bonus upon achieving the norm.The effort was relatively small, however, productivity grew 1%. Interestingly, the effect of a loss was stronger when how teams were rewarded this way, social pressure came to bear on the less productivity team members. When the team members won't earn any bonus. So, long-term productivity gains were achieved through bonuses paid by excellent performance compensation method to compare to low service performance employees receiving no bonuses at all.Economic views of human motivation natureThere are only two main types of economic actors and by making simplifying assumptions about how these types of actors behave and interact. The two basic sets of actors in this model are firms, which are assumed in this model are firms, which are assumed to maximize their profits from producing and selling products and services, households, which are assumed to maximize their utility ( or satisfaction) from consuming products and services.It seems any employees will choose to do behaviors to achieve to earn much benefits from their organizations. The models of economic behaviors that consider considerate employees' choice of goals, the actions they take to achieve these goals and the limitations and influences that affect their choices and actions.For university students choose which universities to study case, suppose that any college enrollment students are deciding which courses to study. Thus, it implies that if the university can provide many different kinds of suitable or right courses to any college enrollment students to choose to study. It means that if the university can provide many different kinds of courses to enrollment students to choose to study. Then, it will have much chance to attract enrollment students to choose this university to study. It's competition can be raised by many courses choice factor. but, in fact, it is not absolute right, although the university can provide many courses to provide to enrollment students to choose to study. But, it is not guarantee to represent it must attract many students to enroll this university to study. For example, suppose that college enrollment students are deciding which courses to choose to study. Although, it has right course to prepare to these enrollment students to choose to study. But, they see a summary of evaluations from hundreds of other students indicating that a certain course is very good in this university. Then, suppose that they match a video interview of just one student to give a negative review of this university of the course. Even when students were told in advance that such a negative review was worse to this university of the course. They tended to be more influenced by the negative review than the summary of hundreds of evaluations, even although such behavior seems irrational. Hence, although many right courses choice has much chance to attract students to enroll this university to study. But, if its bad educational quality from this course from negative review factor, which will influence the enrollment students number to be reduced.

Download or read book Behavioral Economic Method Predicts How Employee Influences written by Johnny Ch LOK and published by . This book was released on 2019-10-24 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can apply behavioral economy method raises basic stable income consumer consumption desireEconomists aim to develop models of human behavior and interactions in consumption markets. But consumers behave in complex ways, such as how to predict consumers to make rational decisions in consumption processes. Moreover, self-consumption control and motivation can vary significantly across different individual consumer.In order to build useful consumption prediction models, economists make simplifying assumptions, aims to predict how to raise stable basic income consumer target group consumption more success. However, behavioral economy method is one kind of accurate consumption prediction method. It can be applied to predict economic decision-making to every consumer consumption choice more accurate raising whose consumption desire?I shall indicate how to apply different behavioral economy methods to raise stable basic stable income target consumer group consumption desire in these different consumption situation ( consumption environment) aspects as below:1.Stable basic stable income consumer group consumption great or small amount desireThe consumption of products and services is a fundamental part of consumer's welfare. Basically, every one who has stable basic stable income, who will like to consume any products and services. Even, consumption great or small amount desire won't be depended on whether the person whose income is more or less. It means low income level of people will still like to consume great amount to buy expensive products or consume expensive services, because consumption is human's part of life and basic needs. This stable basic income people will like to consume, because they have stable income source when they do not worry about unemployment occurrence to cause them have no enough money to support their life. Otherwise, non-stable basic stable income people won't like to consume because they feel they have no stable basic income source to support their life and they will worry about unemployment occurrence any time. Hence, stable basic income people will have more consumption desire to compare non-stable basic stable income people in any countries usually. Behavioral economic method indicates they feel their economic benefits will be loss if they planned to buy any products or consume any services easily. So, they prefer to save money in bank more than consumption.

Download or read book How Behavioral Economic Method Explains And Predicts written by Johnny Ch Lok and published by Independently Published. This book was released on 2019-05-07 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to improve the design of incentive structures to encourage productivities in any organizations?Any monetary incentive can only encourage productivities in short term. It can not only encourage productivities in long term in any organizations. It is similar to cheap or discount product price can only attractive consumers to buy the product in short term, it can not attract consumers to choose to buy the product in long term, it prefers to have more options to encourage labors to incentive productivities, e.g. investing good beneficial retirement plans. Suggesting that employees do not have free disposal of their investment options. These standard incentives seem irrelevant raising salary monetary factor, they can be quite effective in inducing labors to take particular actions to incentive productivities in long term. Due to when they can hard work, then they have more beneficial retirement plans or investing plans for their retirement. It means when they can achieve the most effective or efficient productivities to the employer for long term. It will give better retirement benefits and investment benefits to the better or even the best performance of employees. Otherwise, the worst performance employees won't earn good retirement benefits and investment benefits, when their employers feel their perform very poor in the organizations in long term.Hence, increasing salary level method is not one successful long term incentive method to persuade every employee to raise productivities or encourage excellent performance optional method. Increasing salary level is only similar to reduce product price and it is only short term encouragement to consumption or productivities method.In conclusion, extrinsic monetary factor can not incentive labor's raising productivities more than every employee themselves intrinsic motivation to raise productivities as excellent performance in any organizations. Thus, organizations need to let employees to feel that they can give long term economic benefits to encourage their intrinsic motivation effort to be raised their productivities or performance more effective or efficient in order to achieve long term both win-win economic benefits to employees and employers both.

Download or read book Behavioral Economy Methods Predict Consumer Behaviors written by Johnny Ch LOK and published by Independently Published. This book was released on 2018-04-25 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: SummaryI shall research three questions.(1)Whether has it relationship between behavioraleconomy and consumer psychology ?(2)Can apply behavioral economy concept topredict consumer behavior?(3)How can apply behavioral economy conceptto predict consumer behavior?In part one, I shall explain what behavioral economy mean and function is, and I shall indicate some examples of behavioral economy method.In part two, I shall indicate how to apply behavioral economy methods to attempt to predict Disney visitor's behavioral choice to visit , university student behavioral choice to study, underground train MTR's passenger's behavioral choice what transportation tool to catch, airline passenger's behavioral choice which airline to buy airticket to catch airplane and environment protection product buyer's behavioral choice to buy any kind of environmental product reasons.Because economic is the science of how resources are allocated by individuals, firms and markets. So, the psychology of individual behavior should be influenced by environment economic factors. Behavioral economy is seem a mathematical tool to predict consumer behaviors, e.g. product price, purchase of insurance, corporate structure and personal decisions, like investment in education or investment in saving.These external economic environment factors, firm's internal strengths or weaknesses factors and consumer's individual psychological factors will influence how many the consumers choose to buy the firm's products or consume the firm's service provision in every year.I write this topic main aim to explain how to apply behavioral economy methods to predict consumer behavior or employee behavior. In my this book, I shall indicate UK and US some public or private entrepreneurs' model, how to apply behavioral economy methods to predict whose marketing behaviors in macro economy view point as well as organizational behavior in micro economy view point both. Different industries have different unique marketing consumption models. How to apply behavioral economy methods to predict behavior in order to know what is the main psychologyical factors to influence these sample UK, US sample entrepreneur's consumers choices to decide to consume themselves services or buy their products more attractively. I shall apply marketing behaviors in macro economy view point as well as organizational behavior in micro economy view point both to indicate these factors, such as product price, purchase of insurance, corporate structure and personal decisions, like investment in education or investment in saving. To explain why these factors will influence consumer numbers to any firms.

Download or read book Judgement the Difference Between Behavioral Economy and Psychological Methods to Predict Consumption written by Johnny Ch LOK and published by . This book was released on 2017-07-30 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second part concerns how to explain what behavioral economy means and how to apply behavioral economy method to predict consumer behavior. Behavioral economics can provide more realistic psychological foundations. This part is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision. In second part, it shall indicate how the process of behavioral economic field develops, then I shall show what methods are used to measure behavioral economy. Next, I shall indicate what the main two categories of behavioral economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close In summary, standard economic theories assume that consumers are rational and self- interested. However, behavioral economic theories assumes that psychology shows who are not rational usually. I shall indicate how consumer's psychological decision to choose their behavioral consumption in actual life environment for underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises. Some consumption of these enterprises evidences also show that consumer individual irrationality , these enterprises have predictable features in these enterprises consumption situation I shall use these enterprises to explain why behavioral economy can make economic predictions more accurate by using these enterprises' consumption evidences on their predictable irrational behavior to these enterprises. Although, these global enterprises' market competition is serious, consumers may be expected to learn to reduce irrational behavior over time, these processes may not work well and may take. You can read these underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to make judgement why behavioral economic model is more accurate to predict consumer behavior to compare standard economic model.In this part, I shall indicate underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. Thus, if company or individual businessman can predict labor psychology or client psychological consumption behavior. Then, which can have more confidence to attract more clients or reduce labor turnover. This book is suitable to any economists or policy makers or individual consumption makers or students or businessmen who have interest to learn how to apply behavioral economy methods to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.Finally, in part three, I shall explain why to apply either behavioral economy or psychological method to predict as above sample cases which is more suitable to predict consumer behavior.I wrote this book for several reasons. I want to give my opinions to let businessmen to know how to apply psychological method or behavioral economic method to predict consumer behavior. Psychological method prediction is concentrated on consumer individual emotion, such as between salespeople and customers contact in one shop. Otherwise, behavioral economic method prediction is concentrated on serving consumers in public service industry, e.g. education, transportation, entertainment etc. public service businesses.

Download or read book Consumer And Organizational Time Psychology written by Johnny Ch Lok and published by . This book was released on 2019-07-18 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether can apply behavioral economic method to raise productivity, service performance in organizations and predict consumer individual emotion in consumption market. I write this book aims to explain whether behavioral economy methods can be attempted to solve how to raise productivities challenge in organizational situations as well as how to predict consumption behaviors challenges. This book divides two parts. Part one, I explain what behavioral economy mean and what behavioral economic methods can be applied to predict consumer emotions and raise staff productivities behaviors.In part one, chapter one I shall explain how to apply behavioral economic method to predict normal basic income consumption client group's habitual spending behavior as well as how to apply behavioral economic method to predict how labor market changing behavior and predict when labor market changes will occur in order to solve shortage of labor or job supply shortage challenges, I shall explain how can apply behavioral economy method raises basic stable income consumer consumption desire, I shall explain behavioral economy method to explain what is the mean of basic stable income consumption great of small amount desire, how to apply life-cycle advertisement method to predict of consumer behavior, and explain how to apply behavioral economy method to raise electricity consumption from electricity user individual habit.In part one, chapter two, I shall explain how to apply behavioral economic method to build consumer confidence is as a predictor of consumption spending. I shall also explain what confidence in consumption survey means and I shall apply behavioral economy method to explain how and why to apply survey to gather data in consumption market. It can measure how much degree of confidence of overall clients to the brand of product or service as well as how to build consumer confidence to buy the brand of product or consume the brand of service as well as I shall also explain what a confidence indicator means and how to apply confidence indicator to predict how many potential consumers will choose to buy the brand of product or consume the brand of service. I shall explain how to apply behavioral economy methods to influence employee individual psychology to achieve to raise productivity of long term incentive invention. I shall apply behavioral economy method to explain why increasing salary is short term incentive productivity method, how to improve the design of incentive structures to encourage productivities organizations, how to build employees and managers kindly co-operational relationship method, explain whether bonus method can encourage service performance to be raised as well as how to apply behavioral economy method to explain how to predict human motivation natural behaviors. I shall apply behavioral economic method to explain that why under-level productive efficiency is not represent low production number to the manufacturer as well as low-consumption desire is not represent less consumer demands or customers lose confidence to the product.In part two, I shall indicate some large organization cases how to apply behavioral economy methods to predict consumer behaviors and solve consumer desire challenges as well as how to apply behavioral economic methods to raise staff productivities.On part three, This first part explains how and why time pressure will influence marketing behavior. I shall indicate some service and product case to explain what the time pressure consumption environment can influence consumer decision making. I also indicate some large international organizations to explain how and why consumers will feel time pressure to influence their consumption behaviors. This second part explains how and why time pressure will influence employees feel that they need learn how to change their working behavior in order to adapt their working pressure environment.

Download or read book Psychology Methods Predict written by Johnny Ch Lok and published by . This book was released on 2021-04-26 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: ⦁Can predict consumer behavior with web search?In behavioral economy view point, it can be applied to predict why consumers buy products from internet. Recent work has demonstrated that web search volume can "predict the present", meaning that can be used to accurately track outcomes, such as unemployment levels, auto and home sales and disease prevalence in near real time. Consumers are searching what for online can also predict their collective future behavior days or even weeks in advance. For example, specifically businessmen can use search query volume to forecast the opening weekend box-office revenue for feature films, first month sales of video games and the rank of songs, finding in all case that search counts are highly predictive of future outcomes from online google research. Finally, businessmen can reexamine previous work on tracking trends and show that, perhaps surprisingly, the utility of search data relative to a simple auto regressive model is modest.Nowadays, people increasingly use the internet for news, information and research purposes. From this perspective, it is a short step to conclude that what people are researching for today is predictive of what who will do in the near future. For example, consumers may search to prepare to buy a new camera, moviegoers may search to determine the opening date of a new film, or to locate cinemas showing it and individuals planning a vacation may search from a places of interest, to find airline tickets, or to price hotel rooms. So online can aggregately count of search queries related to retail activity. Movie going or travel might be able to predict collective behavior of economic, cultural, or political interest. Determining the nature of behavior that can be predicted using search, the accuracy of such predictions and the time scale over which predictions can be usefully made are therefore all questions of interest. Researchers have focused on the observation that search " predicts the present". For example, Ettredge et al (2005) found that counts of the top 300 search terms during 2001 to 2003 year were correlated with US Bureau Of Labor statistics Unemployment Figures; Cooper (2005) et al found that search activity for specific cameras during 2001 to 2003 year correlated with their estimated incidence and Eysenbach (2006) found a high correlation between clicks on sponsored search results of flu-related keywords and epidemiolopical data from the 2004 to 2005 year Canadian flu season.Thus, motivated, I indicate one example how investigates whether search activity is a systematic leading indicator of consumer activity by forecasting. For first example, supposing to opening weekend Box-office revenue for 119 feature films released in the united States between Oct. 2008 year and Sept. 2009. For second example, supposing to first month sales of video games across all gaming platforms, e.g. Xbox, Play station etc.) for 106 games released between Sept. 2008 and Sept. 2009 year. These search data can be collected from yahoo using research rank from the current and previous weeks. Can online search also predict the near future? A finding that may apply usually to a wide range of consumer behaviors, e.g. airline travel, hotel vacancy rates and auto sales and economic indicators, e.g. real-estate prices, credit card and confidence indicators. It seems all research based predictions simply models to build on publicly available information. For movies, baseline predictions can be used a linear model that includes production budgets, the number of screens on which each movie opened and box office projections from the Hollywood Stock Exchange (HSX) ( hsx.com) on online, play money prediction market that is known to generate information prediction. For video games, many of the key indicators of revenue, including production budgets and initial available.

Download or read book Predicting Consumer Behavioral Methods written by Johnny Ch Lok and published by Independently Published. This book was released on 2018-10-17 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: PrefaceThis book is concerned how to apply behavioral economy method to predict consumer behavior. Also I shall compare to explain what advantages and disadvantages between any one of my solvable suggestions and the any one of the company's choice of solvable method to these any one sample industry consumer behavioral economic challenges to aim to let any reader to judge whether how to choose the solvable method is better. This book can provide sample industries to let students to learn how to behavioral economy method to predict consumer behaviors. This book divides part one and part two. Part one explains what behavioral economy function and mean is and how applying this method to predict consumer behavior. Part two explains what psychological method mean and function and how appling this method to predict consumer behavior.In Behavioral economics part, it can provide more realistic psychological foundations. This book is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision. In part one, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close relationship to influence consumption of decision. In this part, I shall indicate underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. Thus, if company or individual businessman can predict labour psychology or client psychologic consumption behavior. Then, which can have more confidence to attract more clients or reduce labour turnover. This book is suitable to any economists or policy makers or individual consumption makers or students or businessmen who have interest to learn how to apply behavioural economy methods to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.

Download or read book Behavioral Economic Method Predicts Consumer Behavior And Relationship written by Johnny Ch Lok and published by Independently Published. This book was released on 2019-11-10 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: ditional economy can be predominted by psychology, but it can also include elements of philosophy, sociology nd even mathematics or econometrics. When any product manufacturers or sellers or service providers expect to predict consumer market how will change to influence consumer individual consumption effort. Analysis is necessary, it is made possible a better understanding of the human brain and of the fundmentals on which it builds decision-making. However, they also need to make any hypotheses of consumption environment to attempt to find what factors will influence future individual customer behavioral changes to make decision making whether how any why he/she chooses to buy the product or consume the service. So, the research methodology was concentrate on quality method more than quantity method when any product manufacturer or service provider expects to predict future consumer behavioral how and why changes more easily. The research processing includes data collected from the global business similar product seller market. The data can concern: How and why the environmental factors had influenced many consumers make emotional reponses of individuals in economical decision making to choose the purchase any similar brand product consumers' shopping experiences will help the present product manufacturers to predict whether how and why what factors will influence the similar product consumers to choose to buy its products in future consumption environment more easily.

Download or read book How Behavioral Time Method Explains and Predicts Organizational Behavior written by Johnny Ch LOK and published by . This book was released on 2019-05-20 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: IntroductionWhether can apply behavioral economic method to raise productivity, service performance in organizations and predict consumer individual emotion in consumption market. I write this book aims to explain whether behavioral economy methods can be attempted to solve how to raise productivities challenge in organizational situations as well as how to predict consumption behaviors challenges. This book divides two parts. Part one, I explain what behavioral economy mean and what behavioral economic methods can be applied to predict consumer emotions and raise staff productivities behaviors.In part one, chapter one I shall explain how to apply behavioral economic method to predict normal basic income consumption client group's habitual spending behavior as well as how to apply behavioral economic method to predict how labor market changing behavior and predict when labor market changes will occur in order to solve shortage of labor or job supply shortage challenges, I shall explain how can apply behavioral economy method raises basic stable income consumer consumption desire, I shall explain behavioral economy method to explain what is the mean of basic stable income consumption great of small amount desire, how to apply life-cycle advertisement method to predict of consumer behavior, and explain how to apply behavioral economy method to raise electricity consumption from electricity user individual habit.In part one, chapter two, I shall explain how to apply behavioral economic method to build consumer confidence is as a predictor of consumption spending. I shall also explain what confidence in consumption survey means and I shall apply behavioral economy method to explain how and why to apply survey to gather data in consumption market. It can measure how much degree of confidence of overall clients to the brand of product or service as well as how to build consumer confidence to buy the brand of product or consume the brand of service as well as I shall also explain what a confidence indicator means and how to apply confidence indicator to predict how many potential consumers will choose to buy the brand of product or consume the brand of service. I shall explain how to apply behavioral economy methods to influence employee individual psychology to achieve to raise productivity of long term incentive invention. I shall apply behavioral economy method to explain why increasing salary is short term incentive productivity method, how to improve the design of incentive structures to encourage productivities organizations, how to build employees and managers kindly co-operational relationship method, explain whether bonus method can encourage service performance to be raised as well as how to apply behavioral economy method to explain how to predict human motivation natural behaviors. I shall apply behavioral economic method to explain that why under-level productive efficiency is not represent low production number to the manufacturer as well as low-consumption desire is not represent less consumer demands or customers lose confidence to the product.In part two, I shall indicate some large organization cases how to apply behavioral economy methods to predict consumer behaviors and solve consumer desire challenges as well as how to apply behavioral economic methods to raise staff productivities.On part three, This first part explains how and why time pressure will influence marketing behavior. I shall indicate some service and product case to explain what the time pressure consumption environment can influence consumer decision making. I also indicate some large international organizations to explain how and why consumers will feel time pressure to influence their consumption behaviors. This second part explains how and why time pressure will influence employees feel that they need learn how to change their working behavior in order to adapt their working pressure environment.

Download or read book The Behavioral Economy and Psychological Methods to Predict Consumption written by Johnny Ch LOK and published by . This book was released on 2017-07-27 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book concerns how to apply psychological and economic behavioral methods to predict customeremotion. The first part concerns to how to apply psychological method to predict consumer emotion. The second part concerns to explain what behavioral economy means and how to apply behavioral economic method to predict consumer behavior.The first part concerns how to apply psychological method to predict how to manufacture the right food taste to let your consumers to like to eat your food aswell as how to produce or design your products to sell to them successfully. I shall use three science and psychology ethnographic research and facial reading technology and online consumption behavioral methods to explain how to predict your client's individual taste and need more accurate.First part concerns how to apply psychological method to predict consumer behavior. The first secton, I shall indiate how to use face reading technology predicts consumer emotion to predict how to do the acceptable ingradients to produce foods to let them to feel more enjoyable to eat sweet foods or drink softdrinking as well as how to use video camera to investigate to predict customer emotion to find what factors had attracted them to choose to buy the manufacturers' products to use and judge whether how to increase your product more attractive to win your competitors.The second section concerns how to find both what the worst attributed factor(s) had influenced the consumers to be caused to decide not to choose to buy your product as well as what the best attributed factor(s) had influenced the consumers to be caused to decide to buy your product in constructive choice process. I shall indicate how manufacturers can analyze to judge whether what the best and worst attributed factor(s) are during every consumer chooses to buy which kind of product or food in constructive choice process. The final third section concerns how to judge whether the online sale channel is more suitable or is not more suitable to compare to the visiting shop sale channel to let the product manufacturers to decide to choose to concentrate on selling their products from either of these two sale channels. Moreover, I shall indicate how to solve their website weaknesses to attract customers like to visit their websites to make final purchase decision more easily. Finally, I hope manufacturers can learn how to predict consumer emotion to decide how to invent your products to sell in the correct attitude to achieve to increase client numbers and you can learn whether you ought to choose to use which method(s) to predict your clients emotion before you invent your products or manufacture which taste foods to sell. The second part concerns how to explain what behavioral economy means and how to apply behavioral economy method to predict consumer behavior. Behavioral economics can provide more realistic psychological foundations. This part is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision.In second part, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close relationship to influence consumption of decision. It aims to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic mod

Download or read book Behavioral Economy and Consumption Behavioral Prediction Method written by Johnn Ch LOK and published by . This book was released on 2017-07-23 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: In one part, it aims to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model.Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best. Thus, these assumptions of the standard economy model of consumer include such as: consumers have known preferences and consumers choose the best option available. The advantages of the standard model, from there three assumptions, such as a logically consistent theory of consumer behavior can be biult, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality. These models often correspond to actual consumer behavior. But behavioral economy model can give evidence from psychology to show that consumer often are irrational and also who are predictably irrational. Clearly, psychology has shown that the rationality assumptions of standard economics are wrong. For example, if irrational consumers were irrational in randomways, who would cancel each other out, leaving the overall outcome determined by the behavior of rational consumers. In that case, economic theories that ignored irrational between would work just fine. But psychology has shown that consumers are irratonal in similar and predictable ways, therefore, irratonality doesn't cancel out and can't be ignored. Moreover, the fact that consumers are predictably irrational means that whose predictably irrational behavior can be relatively easily inserted into economic theories to make economic predictions more accurate. In fact, consumers often are unable to make use of what who know about their available options and their preferences to figure out the best available option, and even when who know what is best for them, evidence shows tht who often make bad choices anyway. Unfortunately for economic view point, there's plenty of reliable evidence of predictably unselfish behavior to consumers. It is true, that the free market competitiion will encourage consumers to make the best option.

Download or read book Behavioral Economy and Consumption Behavioral Prediction Method written by Johnny Ch LOK and published by . This book was released on 2017-07-23 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: In one part, it aims to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model.Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best. Thus, these assumptions of the standard economy model of consumer include such as: consumers have known preferences and consumers choose the best option available. The advantages of the standard model, from there three assumptions, such as a logically consistent theory of consumer behavior can be buillt, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality. These models often correspond to actual consumer behavior. But behavioral economy model can give evidence from psychology to show that consumer often are irrational and also who are predictably irrational. Clearly, psychology has shown that the rationality assumptions of standard economics are wrong. For example, if irrational consumers were irrational in random ways, who would cancel each other out, leaving the overall outcome determined by the behavior of rational consumers. In that case, economic theories that ignored irrational between would work just fine. But psychology has shown that consumers are irratonal in similar and predictable ways, therefore, irratonality doesn't cancel out and can't be ignored. Moreover, the fact that consumers are predictably irrational means that whose predictably irrational behavior can be relatively easily inserted into economic theories to make economic predictions more accurate. In fact, consumers often are unable to make use of what who know about their available options and their preferences to figure out the best available option, and even when who know what is best for them, evidence shows that who often make bad choices anyway. Unfortunately for economic view point, there's plenty of reliable evidence of predictably unselfish behavior to consumers. It is true, that the free market competition will encourage consumers to make the best option.In summary, standard economic theories assume that consumers are rational and self interested. However, behavioral economic theories assumes that psychology shows who are not rational usually. I shall indicate how consumer's psychological decision to choose their behavioral consumption in actual life environment for underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises. Some consumption of these enterprises evidences also show that consumer individual irrationality , these enterprises have predictable features in these enterprises consumption situation.

Download or read book How Applying Behavioral Economic Method To written by John Lok and published by . This book was released on 2023-09-16 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is concerned how to apply behavioral economy method to predict consumer behavior. Also I shall compare to explain what advantages and disadvantages between any one of my solvable suggestions and the any one of the company's choice of solvable method to these any one sample industry consumer behavioral economic challenges to aim to let any reader to judge whether how to choose the solvable method is better. In, conclusion, this book can provide sample industries to let students to learn how to behavioral economy method to predict consumer behaviors. In Behavioral economics part, it can provide more realistic psychological foundations. This book is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision.

Download or read book Behaviour Economics Prediction Method and written by Johnny C. H. Lok and published by Createspace Independent Publishing Platform. This book was released on 2018-01-05 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: In my book, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain behavioral economic principles of policy makers or decision makers as well as I shall also analyze whether behavioral economy and psychology which has close relationship. I shall indicate underground train and Disney entertainment theme park and University etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. This book is suitable to any economists or policy makers or individual consumption makers or students or working people who have interest learn how to apply behavioural economy to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.

Download or read book Predict Consumer Behavior Psychology Methods written by Johnny Ch LOK and published by . This book was released on 2018-01-11 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: In one part, it aims to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model. Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best. Thus, these assumptions of the standard economy model of consumer include such as: consumers have known preferences and consumers choose the best option available. The advantages of the standard model, from there three assumptions, such as a logically consistent theory of consumer behavior can be biult, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality. These models often correspond to actual consumer behavior. But behavioral economy model can give evidence from psychology to show that consumer often are irrational and also who are predictably irrational. Clearly, psychology has shown that the rationality assumptions of standard economics are wrong. For example, if irrational consumers were irrational in randomways, who would cancel each other out, leaving the overall outcome determined by the behavior of rational consumers. In that case, economic theories that ignored irrational between would work just fine. But psychology has shown that consumers are irratonal in similar and predictable ways, therefore, irratonality doesn't cancel out and can't be ignored. Moreover, the fact that consumers are predictably irrational means that whose predictably irrational behavior can be relatively easily inserted into economic theories to make economic predictions more accurate. In fact, consumers often are unable to make use of what who know about their available options and their preferences to figure out the best available option, and even when who know what is best for them, evidence shows that who often make bad choices anyway. Unfortunately for economic view point, there's plenty of reliable evidence of predictably unselfish behavior to consumers. It is true, that the free market competition will encourage consumers to make the best option.

Download or read book How to Predict Consumer Psychology written by Johnny Ch Lok and published by Independently Published. This book was released on 2019 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part TwoPsychological method predicts consumer behabiorIntroductionWhat is the standard economic model? It is the standard economic model, the way most economists think about consumer welfare and consumer choice. What is the rationality in the standard economic model? The standard economic model relies heavily on the assumption that consumers are rational. Standard economic model assumes that consumers are fully aware of all the options who have, who can always and consistently, rank whose options in accordance with their preferences, and always choose the option, who like the best option. Thus, what the assumptions of the standard economic model of consumer are? The assumptions include consumers act with full information, consumers have known preferences, consumers choose the best option available.The standard economic model of consumer behavioral prediction method advantages includes: A logically consistent theory of consumer behavior can be built, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality and those models often correspond to actual behavior of consumption reasons. What is the inconvenient truth? It includes clear evidence from psychology has shown that the rationality assumptions of standard economic model are wrong. Evidence from psychology has shown that consumers often are irrational and also who are predictably irrational. So these are wrong view point to influence how economists judge what cause consumption of behavior. Thus, it beings this question? What is mean of predictably irrational? It means that of irrational consumers were irrational in random ways, who would cancel each other out, leaving the overall outcomes determined by the behavioral consumption of rational consumers. As that case, economic theories that ignored irrational behavioral consumption would work just fine. But, psychology has shown that consumers are irrational in similar and predictable ways. Therefore, irrationality doesn't cancel out and can't be ignored to judge why the behavioral consumption has been caused.