EAN: 9783631635056

A PSYCHOLOGICAL-INSTITUTIONAL APPROACH TO CONSU...

This study combines psychological fundamentals with Institutional Economics in order to
understand relevant aspects of consumers' decision making and firms' behaviors in pursuit of
benefiting from that knowledge. This study emphasizes that psychological fundamentals can offer
more analytical insights to Institutional Economics. The psychological basics applied to an
institutional analysis of consumers' decision making are divided in two parts. One relies on
the importance of instincts as motivation to consume  the other is based on cognition and
vicarious observation as central aspects of consumers' learning processes. A central argument
of this study is illustrated by two cases: one explores how functional yogurt was introduced to
Brazilian consumers and the other investigates the transference of objects of consumption from
comic books to movies.

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