Consumer information search revisited: theory and empirical analysis

Article Abstract:

A comprehensive theoretical framework for understanding consumers' information search behavior is presented. Unlike previous research, our model identifies not only what factors affect consumers' search behavior but also how these factors interact with each other. In particular, the model emphasizes the effect of prior brand perceptions on the search process. We argue that when consumers have brand-specific prior distributions of utility, the existence of relative uncertainty among brands is necessary for search to be useful. Thus, we explain why product class involvement or low search costs may not be sufficient to induce large amounts of search activity and why there may be an inverted-U-shaped relationship between search activity and experience. We test our theory on consumers' search behavior for new automobiles, using data collected contemporaneously with consumers' actual decision process. Our data support our theory. (Reprinted by permission of the publisher.)

Consumer Behavior, Human information processing, Online searching, Searching behavior

---

Value segmentation: a model for the measurement of values and value systems

Article Abstract:

Understanding human values and value systems is important in consumer research because they provide explanations for the behavior of people. A model was developed to provide researchers with a methodology for the simultaneous identification and assessment of the value systems within a population, as well as for the categorization of individuals according to these values. This model was applied to a survey involving 800 participants in Brazil. Six segments of participants were identified, along with their value priorities. The dominant values that emerged from these segments included self-respect, mature love, inner harmony, and world peace. The reliability of the estimated value systems and the validity of the segmentation results were tested and found to be acceptable.

Market segmentation, Human behavior, Values, Values (Philosophy)

---

Measuring market efficiency and welfare loss

Article Abstract:

This study presents a general methodology capable of addressing a number of fundamental questions in consumer policy. Are consumers paying more than the minimum price for a given bundle of attributes? If so, what brands cost more than the consumer needs to pay? What would be the degree of improvement in the consumer's well being if some intervention sets the price of such inefficient brands at the efficient level? We apply the methodology to data on automobiles and several other goods and analyze the determinants of efficiency. (Reprinted by permission of the publisher.)

Analysis, Finance, Industrial research, Pricing, Brand name products, Brand names

Similar abstracts:

• Abstracts: Dichotomization of continuous variables: the implications for meta-analysis. Individual differences in output variability as a function of job complexity
• Abstracts: Perceived performance norm as a mediator in the effect of assigned goal on personal goal and task performance
• Abstracts: Effect of prior performance information on ratings of present performance: contrast versus assimilation revisited

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.