Analysis of Young People’s Overconsumption from the Perspective of Behavioral Economics

Abstract

With the development of China’s economy, there have been new changes in various industries, resulting in a continuous increase in consumption levels, which also negatively impacted development of China’s economy. Whether it is the consumption of primary, secondary, or tertiary industries, or essential goods or luxury goods. The consumption intensity has skyrocketed especially after the end of the pandemic, and many people have a great desire for consumption, gradually leading to the phenomenon of consumption addiction. The consumers’ attitude affects their behavior, and some young people still have the problem of excessive or blind consumption. This article provides a detailed analysis of excessive consumption among some young people from the perspective of behavioral economy, with the goal of solving consumption issues and providing some consumption suggestions to relevant personnel.