Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 36 , 10 November 2023


Open Access | Article

The Analysis of Focusing Illusion and Irrational Behavior in the Field of Consumption

Henry Cao * 1
1 City of London Freemen’s School

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 36, 110-114
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Henry Cao. The Analysis of Focusing Illusion and Irrational Behavior in the Field of Consumption. AEMPS (2023) Vol. 36: 110-114. DOI: 10.54254/2754-1169/36/20231793.

Abstract

The focusing illusion is perhaps one of the most important factors for the occurrence of biases in intuitive predictions. This paper investigates the cognitive bias in detail, and exactly how focusing illusion affects an individual’s irrationality in daily life. The study also demonstrates how would focusing illusion affect the selection and purchase of private cars of individuals. To figure out whether focusing illusion occurs and whether it is the major factor affecting customer’s mind and thinking, the paper explores the customer’s consumption behaviors and the seller’s marketing strategies when choosing in between potential available options within the allowance of their ability to purchase. To some extent, the viewpoints of existing researches and this study are basically consistent. Both clearly point out the irrational consumption behavior caused by the focusing illusion. In consider of this, potential theoretical methods are proposed to rectify consumer’s and society’s point of view, avoid the trap and consequences brought by the focusing illusion. These includes solutions such as defocusing and delay in decision-making.

Keywords

focusing illusion, focalism, irrational behavior

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-093-6
ISBN (Online)
978-1-83558-094-3
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/36/20231793
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated