The Mystery of the Blind Box Economy from the perspective of behavioral economics

Abstract

Nowadays, the blind box economy is hot, and the blind box market has huge potential. Under the domination of irrational choice, consumers buy blind box products in large quantities and enjoy the fun of opening blind boxes. Based on behavioral economics, this paper analyzes and elaborates the causes of the blind box economy from five aspects, namely, crowd psychology, comparison psychology and conspicuous consumption, experience economy, psychological account, availability inspiration and flip-flop effect, to reveal the economic causes and point out the regulatory pain points of the "blind box boom". In addition, this paper puts forward relevant suggestions on the difficulties in regulating the blind box economy.