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Which Mission? Thoughts About the Past and Future of BDT

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  • Schwarz, Norbert

Abstract

The behavioral decision theory (BDT) research of the last few decades addressed a big and important question, the limits of human rationality, but did so in an effect-focused way that many observers considered a serious limitation. Simonson’s (this issue) retrospective suggests that this limitation reflects a narrowly defined mission that privileged the falsification of economists’ rationality assumptions over an understanding of the processes underlying the observed phenomena. Future BDT research has the opportunity to overcome this limitation by conceptualizing BDT findings, and the marketing-centric questions Simonson poses, within the context of what else we know about the human mind.

Suggested Citation

  • Schwarz, Norbert, 2015. "Which Mission? Thoughts About the Past and Future of BDT," Journal of Marketing Behavior, now publishers, vol. 1(1), pages 53-58, May.
  • Handle: RePEc:now:jnljmb:107.00000003
    DOI: 10.1561/107.00000003
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    Cited by:

    1. Simonson, Itamar, 2014. "The BDT Effect and Future: A Reply to John Lynch and Norbert Schwarz," Research Papers 3163, Stanford University, Graduate School of Business.

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