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


  • Catalina BUTNARU

    (Postgraduate student, SNSPA)


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.

Suggested Citation

  • Catalina BUTNARU, 2009. "Social Psychology And Marketing: The Consumption Game. Understanding Marketing And Consumer Behavior Through Game Theory," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 4, pages 165-184, November.
  • Handle: RePEc:aic:revebs:y:2009:i:4:butnaruc

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    References listed on IDEAS

    1. Don Ross, 2006. "Evolutionary game theory and the normative theory of institutional design: Binmore and behavioral economics," Politics, Philosophy & Economics, , vol. 5(1), pages 51-79, February.
    2. Michael J. Brennan, 1994. "Incentives, Rationality, And Society," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(2), pages 31-39.
    3. 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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    More about this item


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

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing


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