The Role of Online Ratings and Reviews in Consumer Decision-Making: Insights from Behavioral Economic Perspectives

Chenxi Zhang

2025

Abstract

With the rapid development of the Internet and e-commerce platforms, online ratings and reviews have become an important reference point for consumer decision-making, revolutionizing the traditional methods adopted by consumers. They reduce information asymmetry, encourage trusting consumer buying behavior, and help the consumers to make more informed purchasing decisions-especially in the retail, food, and travel sectors. This paper is an in-depth literature review that assesses current writings on online ratings and reviews shaping and influencing trends in customer behavior. After assessing their quality, quantity, and consistency, the paper recognizes their emotional and social power, as well as the potency of negative feedback; in addition, there is a dynamic interaction between these ratings and extensive detailed reviews. In addition, this paper this paper suggests that businesses should encourage the writing of bottom-up, detailed, and real reviews. They should also ensure positive and transparent feedback to negative feedback so that the brand's credibility and consumer loyalty will be improved. As for consumers, critical thinking should be maintained when using online reviews and comparative understanding from multiple sources should be brought in. Consumers should be aware of polarized reviews and check the relevance and reliability of reviews based on their needs and reality.

Paper Citation

in Harvard Style

Zhang C. (2025). The Role of Online Ratings and Reviews in Consumer Decision-Making: Insights from Behavioral Economic Perspectives. In Proceedings of the 2nd International Conference on Applied Psychology and Marketing Management - Volume 1: APMM; ISBN 978-989-758-791-7, SciTePress, pages 754-759. DOI: 10.5220/0014280000004942

in Bibtex Style

@conference{apmm25,
author={Chenxi Zhang},
title={The Role of Online Ratings and Reviews in Consumer Decision-Making: Insights from Behavioral Economic Perspectives},
booktitle={Proceedings of the 2nd International Conference on Applied Psychology and Marketing Management - Volume 1: APMM},
year={2025},
pages={754-759},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0014280000004942},
isbn={978-989-758-791-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Conference on Applied Psychology and Marketing Management - Volume 1: APMM
TI - The Role of Online Ratings and Reviews in Consumer Decision-Making: Insights from Behavioral Economic Perspectives
SN - 978-989-758-791-7
AU - Zhang C.
PY - 2025
SP - 754
EP - 759
DO - 10.5220/0014280000004942
PB - SciTePress