Neuroeconomics: An Innovative View on Consumer´s Decision Process

  • Berčík Jakub
  • Paluchová Johana
  • Horská Elena
Cite this:
Jakub, B., Johana, P., & Elena, H. (2016). Neuroeconomics: An Innovative View on Consumer´s Decision Process. Journal of Business Management and Economics, 4(8), 22–28. https://doi.org/10.15520/jbme.2016.vol4.iss8.216.pp
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Abstract

The present time is overlap between the various scientific disciplines and therefore in the last years has seen an exponential development of new direction of interdisciplinary exploration, which is referred to as neuroeconomics. These are the new approaches that integrate several disciplines, such as economics; biology; psychology; neuroscience etc. and they are considered appropriate for providing better explanation of economic events and complex economies today. In this context, the neuroeconomics develops the basic and applied research in the field of consumer choice, decision-making and final consumer behavior, which is in the comparison with conventional economic theories. The neuroeconomic approach fundamentally provides new view on complex decision mechanism of customers, which is the result of interference of multiple variables. It recognizes the impact of emotional, social, cognitive and other factors on the economic behavior of individual in the food market. The aim of this paper is to provide a theoretical framework and to highlight the fact, that neuroeconomics research is possible to achieve with better understanding of the principles of economic decision-making and consumer behavior, and as well as a consumer in the economic processes through neuro-visualization and biometrics methods and through psychological and neurobiological terms and knowledge too.

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