Belief Systems, Religion, and Behavioral Economics

CHAPTER 1

Behavioral Economics and Belief Systems

Introduction

Religion is a topic that businesses often ignore, in spite of 70% of the world being religious. Whether the silence results from the taboo nature of the topic or the thought that religion is a separate domain from consumption and business, it cannot be denied that it has received scant attention. Many resist the idea (or do not realize) that religion is a key contributor to a consumer’s core values, which then contribute to consumption decisions, voting practices, reaction to pro-social messages and public policy, as well as donating behavior. All cultures have a concept of God and of spirituality, although definitions and acceptance of those concepts vary.

The field of behavioral ...