IDEAS home Printed from https://ideas.repec.org/p/trn/utwpce/9902.html
   My bibliography  Save this paper

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

Author

Listed:
  • Maria Giovanna Devetag

    ()

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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Maria Giovanna Devetag, 1999. "From utilities to mental models: A critical survey on decision rules and cognition in consumer choice," CEEL Working Papers 9902, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
  • Handle: RePEc:trn:utwpce:9902
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, Oxford University Press, vol. 69(1), pages 99-118.
    2. Timothy B. Heath & Subimal Chatterjee & Karen R. France, 1995. "Mental Accounting and Changes in Price: The Frame Dependence of Reference Dependence," Post-Print hal-00670476, HAL.
    3. Timothy B. Heath & Subimal Chatterjee, 1995. "Asymmetric Decoy Effects on Lower-Quality Versus Higher-Quality Brands: Meta-Analytic and Experimental Evidence," Post-Print hal-00670480, HAL.
    4. Johnson, Michael D, 1989. " The Differential Processing of Product Category and Noncomparable Choice Alternatives," Journal of Consumer Research, Oxford University Press, vol. 16(3), pages 300-309, December.
    5. Plott, Charles R & Levine, Michael E, 1978. "A Model of Agenda Influence on Committee Decisions," American Economic Review, American Economic Association, vol. 68(1), pages 146-160, March.
    6. Heath, Timothy B & Chatterjee, Subimal, 1995. " Asymmetric Decoy Effects on Lower-Quality versus Higher-Quality Brands: Meta-analytic and Experimental Evidence," Journal of Consumer Research, Oxford University Press, vol. 22(3), pages 268-284, December.
    7. Heath, Timothy B & Chatterjee, Subimal & France, Karen Russo, 1995. " Mental Accounting and Changes in Price: The Frame Dependence of Reference Dependence," Journal of Consumer Research, Oxford University Press, vol. 22(1), pages 90-97, June.
    8. Levine, Michael E. & Plott, Charles R., "undated". "Agenda Influence and Its Implications," Working Papers 151, California Institute of Technology, Division of the Humanities and Social Sciences.
    9. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
    10. Wernerfelt, Birger, 1995. " A Rational Reconstruction of the Compromise Effect: Using Market Data to Infer Utilities," Journal of Consumer Research, Oxford University Press, vol. 21(4), pages 627-633, March.
    11. Sujan, Mita, 1985. " Consumer Knowledge: Effects on Evaluation Strategies Mediating Consumer Judgments," Journal of Consumer Research, Oxford University Press, vol. 12(1), pages 31-46, June.
    12. Kardes, Frank R, et al, 1993. " Brand Retrieval, Consideration Set Composition, Consumer Choice, and the Pioneering Advantage," Journal of Consumer Research, Oxford University Press, vol. 20(1), pages 62-75, June.
    13. Cripps, John D & Meyer, Robert J, 1994. " Heuristics and Biases in Timing the Replacement of Durable Products," Journal of Consumer Research, Oxford University Press, vol. 21(2), pages 304-318, September.
    14. Cohen, Joel B & Basu, Kunal, 1987. " Alternative Models of Categorization: Toward a Contingent Processing Framework," Journal of Consumer Research, Oxford University Press, vol. 13(4), pages 455-472, March.
    15. Marengo, Luigi & Tordjman, Helene, 1996. "Speculation, Heterogeneity and Learning: A Simulation Model of Exchange Rates Dynamics," Kyklos, Wiley Blackwell, vol. 49(3), pages 407-438.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. Marco Valente, 2012. "Evolutionary demand: a model for boundedly rational consumers," Journal of Evolutionary Economics, Springer, vol. 22(5), pages 1029-1080, November.
    7. van Rijnsoever, Frank J. & van Mossel, Allard & Broecks, Kevin P.F., 2015. "Public acceptance of energy technologies: The effects of labeling, time, and heterogeneity in a discrete choice experiment," Renewable and Sustainable Energy Reviews, Elsevier, vol. 45(C), pages 817-829.
    8. 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.
    9. 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.
    10. 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;Portland International Center for Management of Engineering and Technology (PICMET), vol. 5(2), pages 305-329, June.
    11. Malerba, Franco, 2002. "Sectoral systems of innovation and production," Research Policy, Elsevier, vol. 31(2), pages 247-264, February.
    12. 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.

    More about this item

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

    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:trn:utwpce:9902. 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: (Marco Tecilla). General contact details of provider: http://edirc.repec.org/data/detreit.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.