The effect of incomplete information on the compromise effect
Most research on the compromise effect focuses on how consumers make their decisions in a complete information scenario; however, consumers generally lack sufficient information when they make purchase decisions. This research aims to explore the compromise effect with incomplete information. Three studies were conducted to examine the research hypotheses. The main findings was that consumers are more likely to choose the middle option when they have incomplete information than when they have complete information. Further, the compromise effect decreases when consumers can choose to defer their decision in an incomplete information scenario. Finally, the compromise effect decreases when consumers are asked to infer missing attribute values from the incomplete information.
Volume (Year): 7 (2012)
Issue (Month): 2 (March)
|Contact details of provider:|| |
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.:
- Dhar, Ravi, 1997. " Consumer Preference for a No-Choice Option," Journal of Consumer Research, Oxford University Press, vol. 24(2), pages 215-231, September.
- Lynch, John G, Jr & Srull, Thomas K, 1982. " Memory and Attentional Factors in Consumer Choice: Concepts and Research Methods," Journal of Consumer Research, Oxford University Press, vol. 9(1), pages 18-37, June.
- Dowling, Grahame R & Staelin, Richard, 1994. " A Model of Perceived Risk and Intended Risk-Handling Activity," Journal of Consumer Research, Oxford University Press, vol. 21(1), pages 119-134, June.
- Ross, William T, Jr & Creyer, Elizabeth H, 1992. " Making Inferences about Missing Information: The Effects of Existing Information," Journal of Consumer Research, Oxford University Press, vol. 19(1), pages 14-25, June.
- Johnson, Richard D & Levin, Irwin P, 1985. " More than Meets the Eye: The Effect of Missing Information on Purchase Evaluations," Journal of Consumer Research, Oxford University Press, vol. 12(2), pages 169-177, September.
- Simonson, Itamar & Kivetz, Ran, 2000. "The Effects of Incomplete Information on Consumer Choice," Research Papers 1609, Stanford University, Graduate School of Business.
- Greenleaf, Eric A & Lehmann, Donald R, 1995. " Reasons for Substantial Delay in Consumer Decision Making," Journal of Consumer Research, Oxford University Press, vol. 22(2), pages 186-199, September.
- Simmons, Carolyn J & Lynch, John G, Jr, 1991. " Inference Effects without Inference Making? Effects of Missing Information on Discounting and Use of Presented Information," Journal of Consumer Research, Oxford University Press, vol. 17(4), pages 477-491, March.
- Coupey, Eloise & Irwin, Julie R & Payne, John W, 1998. " Product Category Familiarity and Preference Construction," Journal of Consumer Research, Oxford University Press, vol. 24(4), pages 459-468, March.
- Amos Tversky & Itamar Simonson, 1993. "Context-Dependent Preferences," Management Science, INFORMS, vol. 39(10), pages 1179-1189, October.
When requesting a correction, please mention this item's handle: RePEc:jdm:journl:v:7:y:2012:i:2:p:196-204. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jonathan Baron)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.