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From utilities to mental models: A critical survey on decision rules and cognition in consumer choice

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  • Maria Giovanna Devetag

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Abstract

This work critically discusses a selected body of (mainly experimental) studies on consumer behavior in the light of two general questions. First, can one identify within the vast literature from psychology, marketing, etc., a few stylized facts which might be the grounds of a behavioral theory of consumption parsimonious enough to be useful to economic theorizing, and, at the same time, not in open violation of the evidence on how consumers actually behave? Second, to what extent should such theories be nested into an explicit account of the cognitive processes leading to particular consumption acts? Copyright 1999 by Oxford University Press.

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Bibliographic Info

Paper provided by Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia in its series CEEL Working Papers with number 9902.

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Date of creation: 1999
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Handle: RePEc:trn:utwpce:9902

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Cited by:
  1. Malerba, Franco, 2002. "Sectoral systems of innovation and production," Research Policy, Elsevier, vol. 31(2), pages 247-264, February.
  2. Frank J. van Rijnsoever & Carolina Castaldi, 2008. "Knowledge base, information search and intention to adopt innovation," Innovation Studies Utrecht (ISU) working paper series 08-02, Utrecht University, Department of Innovation Studies, revised Feb 2008.
  3. van Rijnsoever, Frank J. & Hessels, Laurens K. & Vandeberg, Rens L.J., 2008. "A resource-based view on the interactions of university researchers," Research Policy, Elsevier, vol. 37(8), pages 1255-1266, September.
  4. Ruslan Rakhmatullin & Louis Brennan, 2014. "Motivation Behind Researchers’ Participation in Formal Networking Research Projects Funded by the European Union," Journal of the Knowledge Economy, Springer, vol. 5(2), pages 305-329, June.
  5. Bonsall, Peter & Shires, Jeremy & Maule, John & Matthews, Bryan & Beale, Jo, 2007. "Responses to complex pricing signals: Theory, evidence and implications for road pricing," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(7), pages 672-683, August.
  6. Zhang, Tao & Zhang, David, 2007. "Agent-based simulation of consumer purchase decision-making and the decoy effect," Journal of Business Research, Elsevier, vol. 60(8), pages 912-922, August.
  7. Marco Valente, 2012. "Evolutionary demand: a model for boundedly rational consumers," Journal of Evolutionary Economics, Springer, vol. 22(5), pages 1029-1080, November.
  8. Uwe Cantner & Jens J. Krüger & René Söllner, 2012. "Product quality, product price, and share dynamics in the German compact car market," Industrial and Corporate Change, Oxford University Press, vol. 21(5), pages 1085-1115, October.
  9. Franco Malerba, 2006. "Innovation, Industrial Dynamics and Industry Evolution: Progress and the Research Agendas," Revue de l'OFCE, Presses de Sciences-Po, vol. 97(5), pages 21-46.
  10. S. Bhaduri & H. Worch, 2008. "Past Experience, Cognitive Frames, and Entrepreneurship: Some Econometric Evidence from the Indian Pharmaceutical Industry," Papers on Economics and Evolution 2008-04, Philipps University Marburg, Department of Geography.
  11. Frank J. van Rijnsoever & Laurens K. Hessels & Rens L.J. Vandeberg, 2008. "A resource-based view on the interactions of university researchers," Innovation Studies Utrecht (ISU) working paper series 08-14, Utrecht University, Department of Innovation Studies, revised Apr 2008.

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