Consumer Decision Making in the Information Age
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F44555601%3A13510%2F18%3A43893800" target="_blank" >RIV/44555601:13510/18:43893800 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11230/18:10379452
Result on the web
<a href="https://link.springer.com/article/10.1007/s12115-018-0283-5#citeas" target="_blank" >https://link.springer.com/article/10.1007/s12115-018-0283-5#citeas</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1007/s12115-018-0283-5" target="_blank" >10.1007/s12115-018-0283-5</a>
Alternative languages
Result language
angličtina
Original language name
Consumer Decision Making in the Information Age
Original language description
Providing people with more information and more options may seem as a good policy. However, because of limited attention and cognitive resources, people are not able to use all available information and freedom of choice effectively to achieve their own best interests. When cognitive resources and attention are depleted, decision making becomes shallow and intuitive, often unable to take important aspects of given situations into account - even though this information is readily available. An intuitive decision making may lead to suboptimal outcomes by overestimating the importance of the most salient cues and disregarding the less obvious future consequences. Although this creates a demand for decision making aides that could be satisfied by markets, policy regulation may be necessary in some areas. We provide specific examples of problems arising from limited attention together with solutions based on behavioral economics approach to policy making known as nudging. (C) 2018, Springer Science+Business Media, LLC, part of Springer Nature.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50902 - Social sciences, interdisciplinary
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Society
ISSN
0147-2011
e-ISSN
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Volume of the periodical
55
Issue of the periodical within the volume
5
Country of publishing house
US - UNITED STATES
Number of pages
8
Pages from-to
422-429
UT code for WoS article
000446518600007
EID of the result in the Scopus database
2-s2.0-85052099143