Complexity and accuracy in consumer choice : the double benefits of being the consistently better brand

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Complexity and accuracy in consumer choice : the double benefits of being the consistently better brand

Author Info

Conlon, B.
Dellaert, B.G.C.
Soest, A. van (Tilburg University, Center for Economic Research)

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Abstract

This study investigates the impact of choice complexity on consumer utility and choice. The authors find that for choices with up to seven alternatives and seven attributes choice accuracy is affected by three context-based complexity effects but not by task-based complexity. The results suggest that brands that are able to create products that outperform competing products and that do so consistently across multiple attributes benefit from a double bonus. Not only is their product more attractive to consumers, but the accuracy with which consumers choose the product also increases, leading to a further increase in the brand's market share.

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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 54.

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Date of creation: 2001
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Handle: RePEc:dgr:kubcen:200154

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Find related papers by JEL classification:
C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models
M31 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - Marketing

This paper has been announced in the following NEP Reports:

NEP-ALL-2001-09-10 (All new papers)
NEP-DCM-2001-09-10 (Discrete Choice Models)
NEP-MIC-2001-09-10 (Microeconomics)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Shugan, Steven M, 1980. " The Cost of Thinking," Journal of Consumer Research: An Interdisciplinary Quarterly, University of Chicago Press, vol. 7(2), pages 99-111, Se.
de Palma, Andre & Myers, Gordon M & Papageorgiou, Yorgos Y, 1994. "Rational Choice under an Imperfect Ability to Choose," American Economic Review, American Economic Association, vol. 84(3), pages 419-40, June. [Downloadable!] (restricted)
Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470. [Downloadable!]
Swait, Joffre & Adamowicz, Wiktor, 2001. " The Influence of Task Complexity on Consumer Choice: A Latent Class Model of Decision Strategy Switching," Journal of Consumer Research: An Interdisciplinary Quarterly, University of Chicago Press, vol. 28(1), pages 135-48, June.

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