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Psychology of pricing
Bimaj, Arjola ; Král, Petr (advisor) ; Olšanová, Květa (referee)
Price is the element of the marketing mix that has direct effect in the profits of a company. The right price can boost the profit and the wrong price can significantly shrink it. Thus, the businesses need to set the right price in order to maximize their revenues. However, the newest factors in the economic field, the continuous changes in the environment and the current financial situation in the world has eroded the pricing power and forces the managers to look in every direction in order to be able and keep up with the changes. Therefore, the aim of the thesis is to study the psychology of pricing related to the factors that affect the consumers' psychology and behavior when it comes to purchasing decision. The information will be then useful inputs for the companies in order to understand these factors and use them to set the most suitable pricing method for their product.
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Behavioral economics - how expensive is a bonus.
ZLÁMALOVÁ, Klára
In my bachelor thesis I focused on a relatively new field - behavioral economics. I tried to explain the main ideas concisely, I briefly described a history. Then I focused on the concrete topic and phenomenom - a bonus. I descibed the concept of the word ?gratis?, I wrote down the way how one of the behavioral economists - Dan Ariely see the whole problem, he claims that people are literally dazed by the word ?gratis?. I have been tested this idea through the using of questionnaires. 35 With using of two types of questionnaire I have researched if people are affected by bonus. If there are some changes in decisions of people when there is or it is not a free small product as a bonus. In my questionnaires people have chosen one object from two offered. In first type of questionnaire there was no bonus, in the second type there was added a pen for free as a bonus to one from the offered objects and I observed the changes in preferences of consumers. In total I collected 205 answered questionnaires and then I have evaluated the hypothesis using a software STATISTICA. I tried to answer if consumers´sex, level of education, job situation or a bonus have some influence on consumers´making decisions on the market. In my experiment I only found that sex has some influence on consumers. Men and women often have chosen different offer. I can´t verify positive influence of added bonus on consumers´ decisions. On the other hand, people have chosen the object without the added bonus more often, when they got the type of questionnaire without bonus than when they got the second type - with added bonus.
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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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Behavioral economics - how anchor affects demand
PODHOROVÁ, Nikola
My bachelor thesis is focused on behavioral economics. Behavioral economics are based on psychology, sociology and economics. One chapter is dedicated to the psycho-logical direction - behaviorism. I'm interested in the topic: how to anchor affects demand. In my thesis examine the theory in practice, the goal of the experiment is to prove whether people, that they really let anchor to affect them. I called 120 respondents, whose were divided into two groups, each group had its own version of the questionnaire. Each version was equipped with different primary anchor, which causes groups have different results. Both questionnaires contained the same four questions. The data are processed in the STATISTICA program with using ANOVA. Type the questionnaire with which related primary anchor, influenced respondents offered prices. The first questionnaire had the primary anchor wedding ring and a the second one had massage. But it also happened, that some respondents did not offer anything. Naming a star for them are worthless. The issues that included questionnaires, had an impact on the decision-making level of education and the latter type of questionnaire. For other questions failed to demonstrate that they have influences on decision-making.
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Human behaviour and economic crises
Šťastný, Jan ; Sirůček, Pavel (advisor) ; Breňová, Lubomíra (referee)
This bachelor thesis treats with the two longest economic crisis in last eighty years and the way how they were influenced by human behavior. Is it possible some subconscious aspects of human behavior were one of the causes of start of Great depression or Mortgage crisis? Under the influence of human trust or stories spread among people some acts significantly affects business cycle. The power of media and their specialists who are giving advices to us about investing is inconsiderable. But is it right?
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The concept of man in economics
Zeman, Jakub ; Sirůček, Pavel (advisor) ; Džbánková, Zuzana (referee)
The thesis discusses the concept of man in the standard economic thinking. It focuses on a critical evaluation of the selected fundamentals. It presents some possible alternative views which show deficiencies in axiomatics of the main currents of economic modeling. Emphasizing the interdisciplinary connections of knowledge about human thought and behavior the thesis is trying to suggest some directions for further development in the approach to human beings in economics to better reflect their defining natural characteristics. It also mentions some of the manifestations of these characteristics, which can be obtained by drawing on the knowledge of psychology, behavioral economics, neuroeconomics and other disciplines and which are inconsistent with standard models, because they lead to errors and irrationality, implicitly produce bounded rationality or attribute the constitutive importance during the formation of thought to completely different elements. In conclusion, the thesis passes to reflect the position of irrationality in the inner world of human's brain and also in the outside world - the economy.
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Psychological aspects of the theory of advertisement
Bahník, Štěpán ; Sirůček, Pavel (advisor) ; Džbánková, Zuzana (referee)
Present work describes two ways of application of psychological findings to economic theory of advertisement. Psychological findings may help with evaluation of different economic approaches of the study of advertisement. Evidence from psychology of persuasion is applied to the question, whether advertisement is used as a source of information. The work then inquires into the possibility, that advertisement can enhance utility. Summarized studies indicate, that it may indeed be so. During the inquiry, neuroeconomics is applied and it's basic methods are presented. The concluding part describes ramifications of chosen approach.
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Theory of behavioral finance
Šulc, Miroslav ; Kuncl, Martin (advisor)
The bachelor thesis is dedicated to behavioral finance and it's application. The thesis describes evolution of the theory till present. Theories are introduced, which forego behavioral finance, for example Expected utility theory. Just as well the newest discipline, neuroeconomics, is outlined. The application part of the thesis analyse bubble on technological market in USA 1995-2000.
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Decision making and behavior in financial matters
Tereková, Kristýna ; Votava, Libor (advisor) ; Bytelová, Tereza (referee)
Work summarizes the current knowledge of classical economic theory of consumer and of behavioral economics. These two directions in which economic theory goes, practically verify on the students of the Faculty of Management of University of Economics in Prague. The work has also pointed out the rationality or irrationality in decision making and behavior of students in the financial field and possibly make some basic steps to amend any irrational behavior.
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Applications of psychology of decision-making
Bahník, Štěpán ; Sirůček, Pavel (advisor) ; Džbánková, Zuzana (referee)
This work summarizes the basics of the heuristics and biases approach. It is a psychological approach to the study of decision-making and judgment stemming from works of Daniel Kahneman and Amos Tversky. Not only did it contribute to understanding of numerous cognitive processes, which people use for deciding and making judgments, but it has many applications in various fields including economics as well. There are mentioned examples of application besides theory in this work. In particular, the covered fields are negotiation, investment decision making and marketing. Critics of depicted approach and its implications are briefly described at the end of the work.
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