Economic rationality in market agents: Case Study of mobile telephone

This research characterizes and quantifies the effect of the mobile telephone regulator on the offer prices for 20 countries and on economic rationality and decision-making of service users, an unknown effect for both. For this we used: Economic regulation theory, psychology of choice, Zimbardo time perspective inventory and second-order cybernetics, whose integration was performed by multivariate statistical analysis. The classical economic theory of the firm presumes that users based their decisions on rational logic limited by resources and therefore asserts that the agent and the prime have absolute control over their decisions in a unique logic. In consequence, we identify that: The five time perspectives proposed in Zimbardo's theory can be explicated individually through only a fraction of negotiation variables, for instance, a user with high score in present hedonism does not evaluate the quality of service before to elect, prefers a monopolistic market but evaluates the quality and quantity of information from it, and that none of the time perspectives is explained by the complete set of variables. Therefore, a second-order cybernetics model is proposed as representation of the economic rationality of the mobile phone users based in statistics models obtained for each time perspective for maximizing users utility.