Abstract
This article searched to study the decision making process by developing analysis of the purchase behavior as a resultant of the interaction of a series of behavioral variables. With the intention of discussing the impact of bounded rationality we searched to understand the use effects of mental accounting, prospect theory and judgment heuristics in the same experiment. Our aim is to discuss the effects of this tree approach related to bounded rationality by exploring them in a survey applied to graduation students as if they were buyers. We tried to assess the use of judgment heuristics as adjustment and anchoring and the impacts of prospect theory and mental accounting on their purchase decisions. The result confirmed the influence of bounded rationality on the purchase decision. This can be seen by the change in their values perceptions when the same decision context is presented in relative and absolute terms, when the reference price is modified by including a premium product and when the price estimative are confronted with different reference values.
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