IDEAS home Printed from https://ideas.repec.org/p/ebg/heccah/0748.html
   My bibliography  Save this paper

Age-induced decision shrinkage, another avenue to repeat purchase: the example of new automobiles

Author

Listed:
  • LAURENT, Gilles
  • LAMBERT-PANDRAUD, Raphaelle

    (Negocia, Paris)

Abstract

The literature from psychology and gerontology suggests that older persons have reduced cognitive abilities, and an increased risk aversion. On this basis, we predict that their decision process will be shrunk, in three manners: a smaller consideration set, a focus on the previous brand (leading to repeat purchases), a privileged status given to other ancient brands. In a survey approach, we test these predictions on a large sample of recent buyers of new automobiles. The results confirm the prediction: A shrinkage of the decision process appears after sixty, and is markedly stronger after seventy-five, two limits suggested by the literature.

Suggested Citation

  • LAURENT, Gilles & LAMBERT-PANDRAUD, Raphaelle, 2002. "Age-induced decision shrinkage, another avenue to repeat purchase: the example of new automobiles," Les Cahiers de Recherche 748, HEC Paris.
  • Handle: RePEc:ebg:heccah:0748
    as

    Download full text from publisher

    File URL: http://www.hec.fr/var/fre/storage/original/application/2dcbe3a417b9bd9f7074a167ec7878c6.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Nedungadi, Prakash, 1990. " Recall and Consumer Consideration Sets: Influencing Choice without Altering Brand Evaluations," Journal of Consumer Research, Oxford University Press, vol. 17(3), pages 263-276, December.
    2. Law, Sharmistha & Hawkins, Scott A & Craik, Fergus I M, 1998. " Repetition-Induced Belief in the Elderly: Rehabilitating Age-Related Memory Deficits," Journal of Consumer Research, Oxford University Press, vol. 25(2), pages 91-107, September.
    3. Yoon, Carolyn, 1997. " Age Differences in Consumers' Processing Strategies: An Investigation of Moderating Influences," Journal of Consumer Research, Oxford University Press, vol. 24(3), pages 329-342, December.
    4. Fournier, Susan, 1998. " Consumers and Their Brands: Developing Relationship Theory in Consumer Research," Journal of Consumer Research, Oxford University Press, vol. 24(4), pages 343-373, March.
    5. Cole, Catherine A & Balasubramanian, Siva K, 1993. " Age Differences in Consumers' Search for Information: Public Policy Implications," Journal of Consumer Research, Oxford University Press, vol. 20(1), pages 157-169, June.
    6. Schmalensee, Richard, 1982. "Product Differentiation Advantages of Pioneering Brands," American Economic Review, American Economic Association, vol. 72(3), pages 349-365, June.
    7. Elke U. Weber & Richard A. Milliman, 1997. "Perceived Risk Attitudes: Relating Risk Perception to Risky Choice," Management Science, INFORMS, vol. 43(2), pages 123-144, February.
    8. Jean-Noël Kapferer & Gilles Laurent, 1985. "Measuring consumer involvement profiles," Post-Print hal-00786781, HAL.
    9. Alba, Joseph W & Hutchinson, J Wesley, 1987. " Dimensions of Consumer Expertise," Journal of Consumer Research, Oxford University Press, vol. 13(4), pages 411-454, March.
    10. Derbaix, C., 1983. "Perceived risk and risk relievers: An empirical investigation," Journal of Economic Psychology, Elsevier, vol. 3(1), pages 19-38.
    11. Gilles Laurent & Eric Lapersonne & Jean-Jacques Le Goff, 1995. "Consideration sets of size one: An empirical investigation of automobile purchases," Post-Print hal-00458463, HAL.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    age; consumer behavior; purchase process; brand loyalty; cautiousness;

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ebg:heccah:0748. 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: (Antoine Haldemann). General contact details of provider: http://edirc.repec.org/data/hecpafr.html .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.