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Consumer Satisfaction in Experimental Setting

Author

Listed:
  • Nickolay Georgiev

    (Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski)

  • George Mengov

    (Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski)

Abstract

We conducted an experiment in economic psychology investigating the role of consumer satisfaction in the choice of future supplier of a fictitious good. By adopting a statistical approach with an econometric slant, we obtained a regression model achieving Radj2 of almost 0.80, a figure which was confirmed with an additional test sample. Further, a multinomial logit model predicted correctly which supplier among four competitors would be chosen in 37.87% of all 272 cases, a substantial increase above the 25% prior probability. Yet, certain methodological issues have emerged that cannot be easily dealt with within the traditional statistical approach.

Suggested Citation

  • Nickolay Georgiev & George Mengov, 2013. "Consumer Satisfaction in Experimental Setting," Yearbook of the Faculty of Economics and Business Administration, Sofia University, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria, vol. 11(1), pages 97-111, March.
    • Handle: RePEc:sko:yrbook:v:11:y:2013:i:1:p:97-111
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