Behavioral Economics

For years I've been trying to get my head around what is the 'thing' that we as online consumers want out of the online experience. Essentially what is it that we're 'acting out' through our online activity?

I believe the answer has a lot to do with 'behavioral economics'.

"Behavioral economics and behavioral finance are closely related fields that have evolved to be a separate branch of economic and financial analysis which applies scientific research on human and social, cognitive and emotional factors to better understand economic decisions by consumers, borrowers, investors, and how they affect market prices, returns and the allocation of resources.

Behavioral economics is that branch of one, which deals with the study and application of analysis with scientific approach on social,emotional factors for understanding the consumers,investors and the market,and the resources.

The field is primarily concerned with the bounds of rationality (selfishness, self-control) of economic agents. Behavioral models typically integrate insights from psychology with neo-classical economic theory. Behavioral Finance has become the theoretical basis for technical analysis. [1]

Behavioral analysts are mostly concerned with the effects of market decisions, but also those of public choice, another source of economic decisions with some similar biases towards promoting self-interest."

If you look at online companies; such as, Threadless they understand that the best way to get people to care about a product is to motivate them to take action. By becoming involved in the product or service we, as consumers, feel a sense of connection. Being able to submit our opinion, ask a question, and access resources creates a sense of belonging and familiarity. Another great online service is Get Satisfaction.

I think this is very powerful considering how alienated we can feel by technology. We become frustrated when we call customer service and can't speak directly to a person. Social media is the cure for automation's failure to be everything to everyone.
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