Understanding how airlines are nudging your behavior can help you make better shopping choices.
basic economy and regular economy fares
“Behavioral economics was developed by incorporating ideas from psychology into standard economic theories,” says Cait Lamberton, a professor of marketing at the University of Pennsylvania’s Wharton School. “If you see a deal that is available for only a short amount of time, and you pay more than you usually would, standard economics would say you’ve made an irrational decision. Behavioral economics says that no, what your brain is doing is responding to scarcity.
Lamberton explains that those messages during the checkout process, like the number of people who have insured their trip today, shouldn’t sway your decision to purchase because they often lack context. “Is that a lot of people or a few people?,” she says.Another bias that should ring true for anyone trying to buy an airline ticket: “decision fatigue.” That is, we tend to make worse decisions when we have to make several of them in a row.
“Once I’m four or five clicks into purchasing this, the price has changed completely,” Lamberton says, suggesting that airlines will withhold information until later in the process, when consumers are less likely to start over.
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