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The Analysis of Focusing Illusion and Irrational Behavior in the Field of Consumption
- 1 City of London Freemen’s School
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Abstract
The focusing illusion is perhaps one of the most important factors for the occurrence of biases in intuitive predictions. This paper investigates the cognitive bias in detail, and exactly how focusing illusion affects an individual’s irrationality in daily life. The study also demonstrates how would focusing illusion affect the selection and purchase of private cars of individuals. To figure out whether focusing illusion occurs and whether it is the major factor affecting customer’s mind and thinking, the paper explores the customer’s consumption behaviors and the seller’s marketing strategies when choosing in between potential available options within the allowance of their ability to purchase. To some extent, the viewpoints of existing researches and this study are basically consistent. Both clearly point out the irrational consumption behavior caused by the focusing illusion. In consider of this, potential theoretical methods are proposed to rectify consumer’s and society’s point of view, avoid the trap and consequences brought by the focusing illusion. These includes solutions such as defocusing and delay in decision-making.
Keywords
focusing illusion, focalism, irrational behavior
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Cite this article
Cao,H. (2023). The Analysis of Focusing Illusion and Irrational Behavior in the Field of Consumption. Advances in Economics, Management and Political Sciences,36,110-114.
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Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development
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