rational decision making

• what is the classical economic theory about man

  homo economics - economic man. this implies that we are all rational and the aim is to maximise utility
• what is the classical assumption about business

  they are profit maximisers as profit is the reward to enterprise and the reward to the role is starting the business
• What are the alternative views of consumer behaviour (TIIE)

  Time, information failure, intelligence, emotion
• what does bounded self control suggest

  individuals have limited control over their decision therefore make decisions that are not in their best interest
• What can affect decision making

  bandwagon effect, herd behaviour