This paper is published in Volume-8, Issue-1, 2022
Area
Behavioural Economics
Author
Akshat Lal, Phillip C. Liang
Org/Univ
Hillspring International School, Mumbai, Maharashtra, India
Pub. Date
28 January, 2022
Paper ID
V8I1-1283
Publisher
Keywords
Nudge Theory, E-commerce, Digital Nudging, Cognitive Bias

Citationsacebook

IEEE
Akshat Lal, Phillip C. Liang. Nudge theory and its application for modern e-commerce markets, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.

APA
Akshat Lal, Phillip C. Liang (2022). Nudge theory and its application for modern e-commerce markets. International Journal of Advance Research, Ideas and Innovations in Technology, 8(1) www.IJARIIT.com.

MLA
Akshat Lal, Phillip C. Liang. "Nudge theory and its application for modern e-commerce markets." International Journal of Advance Research, Ideas and Innovations in Technology 8.1 (2022). www.IJARIIT.com.

Abstract

Nudge theory can mainly be credited to two academics—Richard H. Thaler and Cass R. Sunstein. Thaler and Sunstein defined their concept as: “A nudge, as we will use the term, is an aspect of the choice architecture that alters people's behavior in a predictable way without forbidding any op)ons or significantly changing their economic incentives. To count as a mere nudge, the intervention must be easy and cheap" Nudge Theory has great implications in many fields such as public health, financial markets, government, fundraising, etc. In this paper, I aim to explore the question “What are some nudges that e-commerce companies exploit to increase sales”. I have aimed to structure this paper in chronological order of the nudges that a consumer is expected to come across when buying any product. For this, I have gone onto the popular e-commerce website amazon.com and seen some of the possible nudges used there are. At the end of the paper, I also discuss the limitations of nudge theory