Johnny Ch Lok

Marketing Behavior Johnny Ch Lok

Behavioral economic has also had a small impact on the study of criminal behaviour. For example, individuals are not less likely to commit a crime when who are 18 age and the pubishment of doing so increases dramatically. However, some economists explain the motivations people have for giving to charity and who understand the psychological motivations for charitable giving. So, it seems that charity award giving has probable to reduce 18 age people who choose to do crime behaviour easily because who feel who have effort to assist charity in their life time. Industrial organization economists study why firms exist and how which function and compete with each other. Insights and psychology and behavioral economics have made a significant contribution to develop that model the interactions of profit maximizing firms with their customers. In fact, firms often need to evaluate whether their products if prices are needed to set what of price of level is the most reasonable and attractive to customers to choose to buy their products. For example, individuals choose cell phone plans with fixed minute allotments and steep charges for going over the minute limits, but frequently exceed their plan limits. This behavior is the best explained by a model in which people overestimate the precision of their demand forecasts. So, cell phone firms need to research how cell phone plans with fixed minute allotments ans steep charges of cell phone call fee charge plan is the most acceptance method to cell phone clients generally. However, cell phone call charge plan and various cell phone product features and the way cell phone clients allocate their limited attention affects cell phone products markets which are external important factors can influence any cell phone clients why who will choose to use the cell phone call plan because any cell phone will be very large durable product to any cell phone consumer after who choose to buy the cell phone product. Hence, who will not often choose to use the old cell phone firm call charge plan if who feel it provides the excellent cell phone call service and reasonable phone call plan to use to compare other cell phone call plans in the cell phone call market. Hence, the cell phone call firm needs to research why consumers need to choose to use which cell phone call plan among of other cell phone call plans in the cell phone call market. Also, researching the cell phone buyers' choice behaviour why who choose to buy the cell phone to use issue, which will have influence to the cell phone buyer why who choose to use the cell phone call charge plan because expensive cell phone is needed to use excellent quality of cell phone call service usually. Otherwise, cheap cell phone is needed to use poor quality of cell phone call service usually. So, cell phone call plan is needed to follow the cell phone quality and price to be used and they ought have direct relationship to influence why the cell phone buyer who chooses to use the cell phone call plan. Finally, behavioral economic can also apply to be used to labor supply as a motivating in negative or positive labor supply elasticities example. For example, it is possible that taxi drivers work fewer hours when wages are high-consistent with a model of daily income targeting. This finding is that when wages are high ( perhaps it is raining and thus it is easy to find people who want a taxi ride), taxi drivers are able to hit their daily target quickly and then go home. However, when wages are low, taxi drivers are not able to hit their target quickly and thus work additional hours in order to hit their target. It means taxi driver's behaviour produce the effect that taxi driver works more when wages are low than when wagers are high.