Abstract
Economic models can be used to describe consumer behavior or to predict expected behavior of the consumers. In order for the application of the selected economic model to describe realistically the issue under study, it is necessary that the individual components of the economic model are able to reliably identify and possibly even quantify main characteristics of the studied problematique. In the last few years, one of the basic theses based on which several economic models are built upon has been "questioned" within the scientific community, namely the one that portraits human as always rationally behaving individual. The goal of this article is to verify whether, in the framework of predicting consumer behavior, one can still use a person as a so-called homo oeconomicus (economic man who always behaves rationally) or whether this theory has been already overcome, and human behavior should be rather described as irrational. To validate the theory of irrationality in the context of consumer behavior, an experiment in the field of air transport will be used, monitoring consumer decision making while choosing the plane tickets.
Highlights
In the last few years, there has been a vigorous economic development in almost all sectors of the national economy worldwide
Relevant to the aforementioned topics, the main objective of this article is to verify the validity of rational choice theory, based on as sample of university students in the Czech Republic that are currently enrolled at the Faculty of Transport Engineering, University of Pardubice
The objective of the article was to verify the validity of the theory of rational decision-making, on a sample of university students in the Czech Republic who are currently enrolled at the Faculty of Transport of Jan Perner, University of Pardubice
Summary
In the last few years, there has been a vigorous economic development in almost all sectors of the national economy worldwide. One of the indirect consequences of this rapid economic development is social transformation. This transformation can be perceived in the context of predominance of different societal values, different way of thinking, different approach to information due to the rapid development of information and communications technologies, etc. The emergence of the younger generation, which gradually shifts from economically dependent to the category of economically active plays a crucial role in the societal shift. For this generation, clear influence of information and communications technologies on the formation of their value system has been demonstrated. The result of the analysis indicates that information and Perner’s Contacts 15(2), 2020 communications technologies are important drivers of cultural convergence, which pushes national cultures around the world to two cultural values: higher individualism and lower power distance (Salehan et al, 2018)
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