Abstract
Economics is the science of studying behavioral aspects of the consumer market. Trends in the consumer market directly influence the production, distribution and consumption of goods and services. Micro economic specifically explores the aspects of rationalization that affects the decision making of the consumer market. Research in these areas is key to the basis of institutional theory: which can be used to make future productions of the consumer market for instance. The theory of bounded rationality holds, that the decision making process is usually influenced by limitations such as time, available information and cognitive functions. The consumer therefore is ...
