Both psychologists and economists have become interested in applying operant concepts and findings to the behavior of humans in the marketplace. An example is the analysis of consumer demand, as indexed by the amount of a commodity that is purchased. In economics, the degree to which price influences consumption is called "the price elasticity of demand." Certain commodities are more elastic than others; for example, a change in price of certain foods may have a large effect on the amount bought, while gasoline and other everyday consumables may be less affected by price changes. In terms of operant analysis, such effects may be interpreted in terms of motivations of consumers and the relative value of the commodities as reinforcers.Domjan, M. (2009). The Principles of Learning & Behavior. Wadsworth Publishing Company. 6th Edition. pages 244–249.
Both psychologists and economists have become interested in applying operant concepts and findings to the behavior of humans in the marketplace. An example is the analysis of consumer demand, as indexed by the amount of a commodity that is purchased. In economics, the degree to which price influences consumption is called "the price el,asticity of demand." Certain commodities are more elastic than others; for example, a change in price of certain foods may have a large effect on the amount bought, while gasoline and other everyday consumables may be less affected by price changes. In terms of operant analysis, such effects may be interpreted in terms of motivations of consumers and the rel!ative value of the commodities as reinforcers.Domjan, M. (2009). The Principles of Learning & Behavior. Wadsworth Publishing Company. 6th Edition. pages 244–249.