About This Project
Why do informed consumers refrain from buying ethical products? Applying insights from behavioural economics
Studies have shown that even well-informed consumers rarely purchase ethical products. Insights from behavioural economics suggest that informing consumers is not enough. In addition, consumers need to be reassured that other consumers purchase equally ethical products. Only then will they express their ethical values in their own purchase decisions and thus force firms to produce compliantly. My aim is to conduct an economic laboratory experiment that allows for analysing this market dynamics.
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