Explanation of behavioral economy approaches with consumer decision making against innovations

Behavioral economics, which considers the psychological effects of the economy and evaluates it as an inseparable whole, is an interdisciplinary field that tries to explain the formation and decision processes of economic events, which traditional economics is insufficient to predict. Behavioral economics, which emphasizes that there are decision makers in every field from production to consumption, unlike traditional economics, does not always make rational decisions, but can be limited rationally, has brought a realistic dimension in the evaluation and interpretation of today's events and phenomena. In this study, consumers' attitudes and preferences are interpreted within the framework of behavioral economics approaches. In order to interpret, the electric car, which is a new technology in our country, was used as an example and the purchasing behavior of the consumer was viewed from this perspective. In the survey conducted on consumers in the central region of Erzincan, it was observed that the age factor of the participants who were considering buying a domestic electric car had a significant interaction on the effect of framing and mental accounting. In addition, in order to determine the price of an electric car brand that is planned to enter the new market in our country, reference prices were given to the consumers and an estimated price was asked from the participants, and as a result, it was determined that the consumers depended on the reference prices we gave.