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Consumer behavioural biases in competition (May 2011)

A review of how consumer behavioural biases impact firms' decisions and hence the competitive equilibria. Consumer behavioural biases imply that consumers may not behave in the rational way many economic models presume.

Publication Ref: oft1324

Availability: Download

OFT1324 Consumer behavioural biases in competition - a survey (pdf 950 kb)




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