Factors that influence the financial decisions of artisans in the Puyo parish

Abstract

The study investigated the factors that influence the economic decisions of artisans in the Puyo parish, with the aim of identifying and prioritizing the elements that affect their financial decision-making. A methodology was employed that included a literature review, followed by data collection through questionnaires applied to a sample of 120 artisans. Data analysis was performed using the Hierarchical Analysis Process method, which allowed the problem to be broken down into a hierarchy of factors and their priorities to be calculated. The results highlighted that psychological and economic factors were the most influential in the economic decisions of artisans, with capital availability and production costs being the most relevant. Risk aversion and loss bias also showed a strong influence on investment decisions. The results underlined the need for specific support strategies to address these influences. The study provided a detailed understanding of the priorities and challenges faced by artisans, offering a basis for future research and development in the field of artisan entrepreneurship.

Keywords: Economic Factors, Risk Aversion, Hierarchical Analysis Process.