Consumer Choice Rule While Examining Similar Consumption Bundles: Rational Choice to Behavioral Bias

Abstract

The study tries to recognize the behaviour of the consumer with respect to the opportunity cost and marginal benefit associated with the commodity. The research tries to evaluate the factors and identify behavioural traits of consumers if they exist in decision making. The study also tries to recognize the prime factors responsible for directing the consumer’s purchasing decision towards the commodity. The study finds out that the Behavioural traits influence the decision-making approach while purchasing the commodity and how prominent factors direct the consumer decision.