Project summary
This project studies behavioral biases in consumer decisions by combining behavioral economics with a marketing perspective. Consumer decisions are typically characterized by a choice among competing alternatives. However, the quantity and quality of choice-relevant information (e.g., product attributes, informative or persuasive advertising) and the choice architecture (e.g., framing) often vary, can lead to behavioral biases, and consequently affect consumer decisions. As markets become increasingly digital and uncertainty increases (e.g., due to supply chain disruptions), the importance of transparency in digital environments increases. Therefore, project A05 aims to investigate transparency and product choice in digital environments. The project will focus on transparency in digital platforms, in particular the impact of new AI-based recommendation systems and subscription-based platform monetization. It will also explore consumer concerns about privacy and data security on digital platforms.