Consumer Behavioural Biases in Competition
Client: | N/A | |
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Published: | May, 2011 |
Consumer behavioural biases imply that consumers may not behave in the fully rational way that many economic models assume. This study assesses what impact behavioural biases can have on competition, including, how competition and pricing practices may change when consumers are biased; if lowering barriers to entry can reduce inefficiencies that arise from consumer behavioural […]