Fan Consumption Behaviour from Herd Effect and Framing Effect - An Analysis Based on Behavioural Economics

Abstract

Nowadays, the global economy is in a downturn and social consumption is becoming more rational. However, the entertainment concert economy is growing against the trend and is unprecedentedly hot, and the fan economy is expected to reach a new high. For this reason, the social influence and huge commercial value formed by the fan economy also have an important weight in the entire business sector. Traditional economics theory is still imperfect in analyzing the current fan consumption behavior. Behavioral economics can improve market efficiency and guide fans to consume rationally through the study of fans' irrational behavior. Therefore, this paper analyzes fan consumption behavior from the perspective of behavioral economics, analyzes Jay Chou's concert economic model through the herd effect, and understands how Taylor Swift drives the entire US economic recovery through the framing effect. And proposes optimization strategies to enable the healthy development of the fan economy and provide a useful supplement to the development of the entertainment industry conert economy.