According to conventional analysis- about consumer behavior

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According to conventional analysis, all consumer decisions are made with just a few assumptions about human behavior, given these, the consumer is then said to maximize their utility. Explain this concept and the process. How does the heterodox perspective theorize about consumer behavior? From the business and finance side, what unconventional concepts help us explain the choices that executives and finance people make? What kind of logic does these 2 perspectives regarding human behavior use, inductive or deductive? If deductive, are there any breaks in the chain of logic? What do these theories of human behavior say about economic power, about our ability as a species to be influenced, shaped and molded and about the current structure of the economic production system? Which of these theories regarding human behavior help us explain consumer society? What is meant by consumer society? Why is mass consumption important to an economy that is abundant? Why does heterodox theory not believe that the end of production is consumption? What are the pros and cons of mass consumption? What steps, if any, can the government do to decrease consumption patterns and what would the consequences of this be? Is the government constrained in its ability to redress this issue? Explain.

Reference no: EM13978291

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