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Social Psychology And Marketing: The Consumption Game. Understanding Marketing And Consumer Behavior Through Game Theory

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  • Catalina BUTNARU

    (Postgraduate student, SNSPA)

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    Abstract

    Consumer psychology provides enough evidence that consumer behavior is not just one side of our existence, but, as a matter of fact, it is a central dimension of our everyday lives, engaging us into changing and defining our identity, beliefs, attitudes and practices. In relation to this, commodification has reached us on all levels: everything that people created, produced and developed over the years, during the post-industrial era, can be commodified and sold to a specific market. Commodification and increased consumption are crossing the line between values and needs, production and creation, identity and capital accumulation, thus making people constantly expecting a payoff while engaging in social, cultural and economic transactions. In this article we argue that we can use the models of game theory to understand socio-economic phenomena such as consumption, B2C marketing and market dynamics.

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    File URL: http://rebs.ro/resource/REBS_4/Essay/Butnaru,C_-_Social_Psychology_and_Marketing.pdf
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    Bibliographic Info

    Article provided by Alexandru Ioan Cuza University, Faculty of Economics and Business Administration in its journal Review of Economic and Business Studies.

    Volume (Year): (2009)
    Issue (Month): 4 (November)
    Pages: 165-184

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    Handle: RePEc:aic:revebs:y:2009:i:4:butnaruc

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    Postal: Universitatea Al. I. Cuza; B-dul Carol I nr. 22; Iasi
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    Related research

    Keywords: Game Theory; consumer behaviour; commodification; decision theory; marketing;

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    1. Michael J. Brennan, 1994. "Incentives, Rationality, And Society," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(2), pages 31-39.
    2. Michael C. Jensen, 1994. "Self-Interest, Altruism, Incentives, And Agency Theory," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(2), pages 40-45.
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