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Consumer Psychology and Behavioural Economics in the Adoption of Internet of Things (IoT) Technologies: A Systematic Review
Abstract
This chapter employs a systematic review design a structured and replicable method for synthesizing existing research to address identified gaps in the literature. Additionally, by integrating insights from both consumer psychology and behavioural economics, the review aims to explore the complex, multidimensional factors that influence the adoption of IoT technologies. The paper relied exclusively on secondary sources to conduct the systematic review. Furthermore, this study employs a hybrid theoretical framework that integrates three well-established models to assess technological influences, evaluate risk and loss aversion from a behavioural economics perspective and to understand behavioural intention, social norms, and perceived control in technology adoption. When studied together, these three models provide a holistic context as to why consumers may embrace or reject technology. Understanding this, enables marketing experts to devise strategies that address factors that may deter consumers from embracing IoT technologies.
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