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Behavioral economics - Relativity consumer choice
KRATOCHVÍLOVÁ, Pavla
In my bachelor thesis I have focused on behavioral economics. It is a combination of economics, psychology and sociology. It examines the human as a being who makes mistakes. People's choice is influenced by several factors. I focused specifically on the decoy. This is an added non-dominant variant that affects the choice. With this decoy increases preferences for alternatives, which is dominant to artificially added options. In my thesis I verify this theory by experiment. I've reached 120 subjects that were split into two groups. The first group received a questionnaire with the decoy. The second part of the people received questionnaire without decoy. Each questionnaire included additional questions: whether the subject is male or female, whether studying or working, and what is the highest level of education. With these questions, I examined whether any of these factors influence the effect of decoy. The obtained data were processed in the Statistica using logit model. Processing was divided into two parts because of that some subjects chose our decoy, even though it was assumed that no one would prefer not. In the first part we deleted the preference for decoy, in the second part we combined number of result for the decoy with result to the dominant alternative. The results in both parts were very similar and showed the same information. It was a big influence what the questionnaire (with or without decoy) subject received. From additional questions have been shown the influence of the factor, which refers to whether the subject is studying or working, ie whether he has income or is dependent on a third person. The gender and educational attainment, we failed to demonstrate impact.
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