Abstract:

A rational person is a person who is based on reason and logic rather than emotional and subjective factors in his decisions, makes calculations, maximizes his benefit, and minimizes his costs at the same time. However, since it is not possible for people to behave fully rationally in real life, the concept of rationality of the traditional theory is one of the most criticized issues. In this context, the biggest criticism has been made by behavioral economics, which has a new place in the literature under economics. According to behavioral economics, it is impossible for people to act fully rationally because their decisions are affected by environmental and psychological factors, and it argues that they can only show limited rationality. While there are many reasons that affect people's decisions, one of the important factors is age. Thus, this study aims to determine whether the rationality of consumers in different generations differs based on the age factor that is effective in consumer decisions. In the application part of the study, a survey was conducted with X generation, Y generation and Z generation consumers at Bartın University and intergenerational consumption preferences were discussed within the framework of behavioral economics. As a result of the findings, it has been observed that consumers in different generations exhibit different behaviors. It has been observed that especially the Z generation consumers are more irrational than other generations when fashion is influential in their purchasing decisions, they go shopping without their needs, they shop for pleasure and entertainment other than their basic needs, they attach importance to image and they buy food, clothing and electronic goods. Y generation consumers, on the other hand, are affected by family, friends and environment in their purchasing decisions, lose their control during shopping and buy surplus products and are affected by discounted products, which are situations where they move away from rationality. Finally, the fact that the X generation consumers are affected by branded and installment products in their purchasing decisions stands out as situations where it is close to behaving irrationally.

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