Globally irrational, locally rational? Localising behavioural economics for the Asian market

This paper looks at how culture can influence consumer decision making and how applications of behavioural economics can be adapted for the Asian context.

Globally irrational, locally rational? Localising behavioural economics for the Asian market

Elina HalonenThe Irrational Agency

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Introduction

Behavioural economics has been one of the big trends in market research for the past couple of years. Insights from BE are often portrayed as universal human tendencies despite the fact that 96% of psychology research is based on populations in Western countries. If culture influences how people think, can we use BE the same way in Asia? This paper will help in understanding the ways in which culture can affect biases and heuristics,...

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