Download or read book The Effects of Incomplete Information on Consumer Choice written by Ran Kivetz and published by . This book was released on 2000 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Information Processing Theory of Consumer Choice written by James R. Bettman and published by Addison Wesley Publishing Company. This book was released on 1979 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Context and Consumer Knowledge on Transferability of Preferences written by Miloš Duško Graonic and published by . This book was released on 1995 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Choice Under Limited Attention When Alternatives Have Different Information Costs written by Frank Huettner and published by . This book was released on 2018 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers often do not have complete information about the choices they face and therefore have to spend time and effort in acquiring information. Since information acquisition is costly, consumers trade-off the value of better information against its cost, and make their final product choices based on imperfect information. We model this decision using the rational inattention approach and describe the rationally inattentive consumer's choice behavior when she faces alternatives with different information costs. To this end, we introduce an information cost function that distinguishes between direct and implied information. We then analytically characterize the optimal choice probabilities. We find that non-uniform information costs can have a strong impact on product choice, which gets particularly conspicuous when the product alternatives are otherwise very similar. There are significant implications on how a seller should provide information about its products and how changes to the product set impacts consumer choice. For example, non-uniform information costs can lead to situations where it is disadvantageous for the seller to provide easier access to information for a particular product, and to situations where the addition of an inferior (never chosen) product increases the market share of another existing product (i.e., failure of regularity). We also provide an algorithm to compute the optimal choice probabilities and discuss how our framework can be empirically estimated from suitable choice data.
Download or read book Consumer Choice Imperfect Information and Public Policy written by Victor P. Goldberg and published by . This book was released on 1973 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Choice Behavior written by W. Fred van Raaij and published by . This book was released on 1977 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Choice Under Limited Attention when Options Have Different Information Costs written by Frank Hüttner and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers often do not have complete information about the choices they face and therefore have to spend time and effort in acquiring information. Since information acquisition is costly, consumers have to trade-off the value of better information against its cost, and make their final choices based on imperfect information. We model this decision using the rational inattention approach and describe the rationally inattentive consumer's choice behavior when she faces options with different information costs. To this end, we introduce an information cost function that distinguishes between direct and inferential information. We then analytically characterize the optimal behavior and derive the choice probabilities in closed-form. We find that non-uniform information costs can have a strong impact on product choice, which gets particularly conspicuous when the product alternatives are otherwise very similar. It can also lead to situations where it is disadvantageous for the seller to provide easier access to information for a particular product. Furthermore, it provides a new explanation for strong failure of regularity of consumer behaviour, which occurs if the addition of an inferior - never chosen - product to the choice set increases the market share of another existing product.
Download or read book The Effect of Information on Consumer and Market Behavior written by Andrew A. Mitchell and published by . This book was released on 1978 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: In order to understand how the market system provides information to buyers, the effect of information on consumer and market behavior is examined from the perspectives of economics, consumer psychology, and public policy. Economic analyses of information transmission and advertising are presented. Effects of different types of information on the behavior of firms, and information search strategies which consumers use to extract information from mass media advertisements are evaluated. Theories of information encoding and storage are described in terms of their implications for consumer research. The causes of information imperfections in local consumer markets (markets where different prices are charged for the same quality) are reviewed. Advertising regulation policy considerations are also examined. Consumer information systems for local services are discussed from the viewpoint of information needs and consumer patterns of information avoidance. (nm).
Download or read book Handbook of Consumer Psychology written by Curtis P. Haugtvedt and published by Psychology Press. This book was released on 2018-12-07 with total page 1892 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook contains a unique collection of chapters written by the world's leading researchers in the dynamic field of consumer psychology. Although these researchers are housed in different academic departments (ie. marketing, psychology, advertising, communications) all have the common goal of attaining a better scientific understanding of cognitive, affective, and behavioral responses to products and services, the marketing of these products and services, and societal and ethical concerns associated with marketing processes. Consumer psychology is a discipline at the interface of marketing, advertising and psychology. The research in this area focuses on fundamental psychological processes as well as on issues associated with the use of theoretical principles in applied contexts. The Handbook presents state-of-the-art research as well as providing a place for authors to put forward suggestions for future research and practice. The Handbook is most appropriate for graduate level courses in marketing, psychology, communications, consumer behavior and advertising.
Download or read book Consumer Response to Product Unavailability written by Kyeong Sam Min and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The primary goal of this research is to examine how consumers respond when their freedom to choose is constrained due to product unavailability. Reactance theory would suggest that restricting individuals' freedom of choice is likely to have an adverse effect, including lowered choice consistency caused by negative affect. The degree to which consumers will react adversely to product unavailability is likely to depend on how much freedom they expect prior to choice, and whether a choice constraint is perceived to be important to them. Managing consumers' expectations and perceptions in this regard represents an important challenge facing retailers. When should consumers be notified of a choice constraint, and what actions can be taken to minimize any detrimental effects on consumer choice and satisfaction? Two studies examine the role of psychological reactance in explaining consumer reaction to product unavailability. The first study establishes the importance of the timing of notification regarding product unavailability. Preference for the unavailable product is shown to moderate the relationship between the timing of notification and choice of the most similar alternative. The second study further explores the role of psychological reactance by examining the process by which consumers restore their freedom and reduce negative affect associated with product unavailability through the selection of another product. The theoretical contribution of this dissertation is to show how the timing of notification influences consumer choice and satisfaction. Past research argued that the presence of an unavailable alternative would increase the choice share of its most similar alternative due to consumers' cognitive biases, including loss aversion and similarity substitution. However, such cognitive accounts fail to fully explain why choice reverses when consumers are notified about product unavailability after they have made a choice. In addition, the existing accounts cannot rationalize why consumer preference impacts consumer reaction to product unavailability. Building on reactance theory, we offer a new motivational account that explains the role of both the timing of information and individual preference.
Download or read book Consumer Behaviour written by Leon Schiffman and published by Pearson Higher Education AU. This book was released on 2013-10-15 with total page 729 pages. Available in PDF, EPUB and Kindle. Book excerpt: A trusted resource for Consumer Behaviour theory and practice. Consumer Behaviour explores how the examination and application of consumer behaviour is central to the planning, development, and implementation of effective marketing strategies. In a clear and logical fashion, the authors explain consumer behaviour theory and practice, the use and importance of consumer research, and how social and cultural factors influence consumer decision making. The sixth edition of this Australian text provides expanded coverage of contemporary topics.
Download or read book Consumer Choice Information Product Quality and Market Implications written by Gennadi Kazakevitch and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Choice in the American Economy written by Robert O. Herrmann and published by Thomson South-Western. This book was released on 1988 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Information Seeking written by Dennis Anderson and published by . This book was released on 1978 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This report contains a summary of a two-stage research project which investigated the nature of consumer information seeking for a durable product. In the first stage, the amount and type of information seeking was studied within a sample of recent buyers of this durable. The second stage of the research involved an assessment of the effects of a particular information disclosure requirement, informative labels, on consumer choice behavior"--Summary.
Download or read book The Effects of Implicit Memory in the Consumer Choice Process written by Sarah L. Coates and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Context Effects in Consumer Choice written by Anastasiya Pocheptsova and published by . This book was released on 2000 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Consumer Decision Making written by Canada. Consumer Research and Evaluation Branch and published by Consumer Research and Evaluation Branch, Consumer and Corporate Affairs Canada. This book was released on 1979 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
