Proceedings of The 5th International Conference on Research in Humanities and Social Sciences
Year: 2021
DOI:
Behavioural Economics in Live Streaming Commerce
Rui Deng
ABSTRACT:
This article introduces the basic concepts of behavioural economics from five aspects, including Prospect theory; framing effects; status quo bias; paradox of choice; The Intrinsic motivation. It also analyses the behavioural economics and the five concepts in the live streaming business Performance. Finally, three suggestions are put forward: (1) Improve Consumers’ Perception of Service Quality; (2) Improve Perception of Product Quality; (3) Focus on Platform Experience and Reputation; (4) Strengthen Supervision and Management to Protect the Rights and Interests of Consumers.
keywords: Behavioural economics; Live streaming commerce; Prospect theory; Framing effects; Status quo bias; Paradox of choice; Intrinsic motivation.