Handbook of Marketing Analytics
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Handbook of Marketing Analytics

Methods and Applications in Marketing Management, Public Policy, and Litigation Support

Edited by Natalie Mizik and Dominique M. Hanssens

Marketing Science contributes significantly to the development and validation of analytical tools with a wide range of applications in business, public policy and litigation support. The Handbook of Marketing Analytics showcases the analytical methods used in marketing and their high-impact real-life applications. Fourteen chapters provide an overview of specific marketing analytic methods in some technical detail and 22 case studies present thorough examples of the use of each method in marketing management, public policy, and litigation support. All contributing authors are recognized authorities in their area of specialty.
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Chapter 22: Consumer (mis)behavior and public policy intervention

Klaus Wertenbroch

Abstract

Consumers often “misbehave.” They save and exercise too little; they spend, eat, and drink too much and take on too much debt; they work too hard (or too little); they smoke, take drugs, have unprotected sex, and carelessly expose their private lives on social media. These misbehaviors, often characterized as time-inconsistent choices, may entail large costs not only to the individuals concerned, but also to society as a whole. In this chapter, I discuss how policy makers can take a theory-guided experimental approach, complemented by field data, to demonstrate consumer precommitment both as a revealed preference-based criterion for evaluating the need for policy intervention and as a tool for allowing consumers to limit their misbehaviors without imposing constraints on market participants’ freedom of choice.

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