Diploma thesis deals with topic of given phenomena of behavioural economics. Specifically, it deals with endowment effect, decoy effect and paradox of choice. The goal of the thesis is to verify influence of given phenomena of behavioural economics in practice. Research part deals with analysis of the phenomena which influence decision-making in financial or economic issues and causes individual to behave irrationally and not like Homo oeconomicus. In an analytical part are then given phenomena verified by method of quantitative analysis in real market on given company. Quantitative analysis deals predominantly with breakdown of customer reactions on marketing strategies of given company in defined period. Integral part of the thesis is based on executed research draw practical recommendations for examined company.

In the master thesis, we present theoretically-critical analysis of current academic knowledge about the paradox of choice and related selected personality characteristics. In the theoretical part, we examine the topic of desition-making. First part defines concept of the paradox of choice. The next part also includes previous research related to paradox of choice and related factors. In addition, we examine the phenomenon of post-decision regret in the context of the paradox of choice. In final section we elaborate relevant personality characteristics. The empirical part investigates the effect of paradox of choice, its relation to personality characteristics and post-decision regret. The research includes experiment, which is extended with personality questionnaire measuring maximization tendency, decisiveness and optimism. Those traits are measured by using Maximization scale Lai (2010), Life Orientation Test- Revised (LOT-R) and Bochum Personality Questionnaire (BIP). In the discussion, we further explore features of maximization tendency. Results does not show presence of the paradox of choice. Nevertheless participants from group with the most choices showed significantly more satisfaction with choice compared to participants from group with least choices which suggests opposite effect. In...

We are moving towards a more digitalized society; we use smart devices and apps, and we can consume and search for things online. This digitalization provides for massive benefits as our behaviors translate into patterns and information on us, and companies can use this to improve their performance and revenue. However, this digitalization does not only come with benefits but also drawbacks. As we move towards a more digitalized society, risks may arise along the way which may impair our personal autonomy, expose us to risky situations with privacy and cybersecurity issues, and complicate our choices. This thesis investigates consumers’ perceptions of and attitudes towards algorithms, and whether they affect their online behavior, which is also the purpose of the thesis. This thesis uses an exploratory and qualitative method, and in order to fulfill the purpose, long and semi-structured interviews have been conducted with eight interviewees who have shared their thoughts and opinions on different matters related to the increasing presence of algorithms. The main finding is that the consumers’ perceptions of and attitudes towards algorithms are negative. A majority of the interviewees stated that they want for their autonomy to remain intact, that they value their privacy and do not want it to be a tradeoff between privacy and personalization, that they want their “online persona” to be representative, and that they want companies to communicate better and take more responsibility when handling their data. The findings were also that algorithms do not affect the consumer’s online behavior. The study confirms previous studies which have stated that there are benefits and drawbacks with algorithms, and although beneficial, the benefits may impair the consumer’s well-being. The study also confirms that there is a privacy and personalization tradeoff, and in situations where privacy is prominent, trust may promote better marketing outcomes. This study also provides a suggested extension of the paradox of choice by introducing the paradox of customization, and the Technology Acceptance Model which enables investigating acceptance of advanced technologies within devices, rather than acceptance of technology itself.

Submitted by Thiago Costa Belisario (thiagobelisario@yahoo.com.br) on 2018-10-29T17:39:41Z No. of bitstreams: 1 TA_Thiago_Belisario_final.pdf: 1087607 bytes, checksum: 7b7579a36ab0b10900527b26ba2aacec (MD5) / Rejected by Simone de Andrade Lopes Pires (simone.lopes@fgv.br), reason: Prezado Thiago, Recebemos seu trabalho na biblioteca digital, mas será necessário fazer alguns ajustes, que encaminharei por e-mail. Por favor, faça as alterações e submeta novamente o trabalho na biblioteca digital. Atenciosamente, Simone on 2018-10-30T00:09:37Z (GMT) / Submitted by Thiago Costa Belisario (thiagobelisario@yahoo.com.br) on 2018-10-30T00:29:27Z No. of bitstreams: 1 TA_Thiago_Belisario_final.pdf: 1086621 bytes, checksum: a82d2dec931e745334372b498047389c (MD5) / Approved for entry into archive by Simone de Andrade Lopes Pires (simone.lopes@fgv.br) on 2018-10-30T17:11:12Z (GMT) No. of bitstreams: 1 TA_Thiago_Belisario_final.pdf: 1086621 bytes, checksum: a82d2dec931e745334372b498047389c (MD5) / Approved for entry into archive by Suzane Guimarães (suzane.guimaraes@fgv.br) on 2018-10-30T18:00:20Z (GMT) No. of bitstreams: 1 TA_Thiago_Belisario_final.pdf: 1086621 bytes, checksum: a82d2dec931e745334372b498047389c (MD5) / Made available in DSpace on 2018-10-30T18:00:20Z (GMT). No. of bitstreams: 1 TA_Thiago_Belisario_final.pdf: 1086621 bytes, checksum: a82d2dec931e745334372b498047389c (MD5) Previous issue date: 2018-09-24 / Hoje em dia o consumidor se depara com uma enxurrada de opções de escolha durante o processo decisório de compra. Empresas do mundo inteiro não medem esforços para disponibilizar um sortimento cada vez mais amplo aos seus clientes, acreditando que, quanto maior o número de alternativas apresentadas, maior a chance de sucesso do negócio. Algumas teorias, entretanto, contrapõem essa perspectiva, assumindo que existe um efeito negativo na amplitude de opções a partir de um certo ponto. Sendo assim, o presente estudo procurou investigar qual quantidade de opções de calçados esportivos oferecidos a 294 clientes em uma loja especializada gera maior conversão de vendas, receita média por cliente atendido, e ainda, média de itens por cliente atendido. Além disso, o trabalho também buscou entender a relação entre a quantidade de alternativas apresentadas ao consumidor comprador e seus níveis de maximização e envolvimento com o produto calçado esportivo. Os resultados apontam uma tendência de aumento na efetivação das vendas na medida em que a quantidade de opções apresentadas aumenta, bem como uma redução de conversão quando a oferta chega a determinado ponto, apesar desta não ser tão significativa. A receita média e a quantidade média de itens por cliente atendido demonstram resultado similar, contudo, com uma redução mais expressiva quando do aumento na quantidade de opções apresentadas. Ademais, constatou-se que, aqueles consumidores que compram com mais opções apresentam maiores níveis de maximização e envolvimento com o produto calçado esportivo. / Nowadays the consumer is faced with a flood of choices during the purchasing decision process. Companies around the world are struggling to deliver an ever-increasing assortment to their customers, believing that the greater the number of alternatives presented, the greater the chance of business success. Some theories, however, counterpose this perspective, assuming that there is a negative effect on the range of options from a certain point. Thus, the present study sought to investigate how many sports shoes options offered to 294 customers in a specialized store generated higher sales conversion, average revenue per customer served, and average items per customer served. In addition, the study also sought to understand the relationship between the amount of alternatives presented to the consumer buyer and their levels of maximization and involvement with the product sports shoes. The results indicate a tendency to increase sales as the number of options presented increases, as well as a reduction of the conversion when the offer reaches a certain point, although this is not so significant. The average revenue and the average number of items per customer served show a similar result, however, with a more significant reduction when the number of options presented increases. In addition, it was verified that, those consumers who buy with more options present higher levels of maximization and involvement with the product sports footwear.