Concepedia

Best Value, Price-Seeking, and Price Aversion: The Impact of Information and Learning on Consumer Choices

Journal of Marketing · 1990 · 341 citations · 16 references

Concepts

Social SciencesBehavioral SciencesEconomicsBehavioral EconomicsConsumer BehaviorMicroeconomicsBehavioral Decision-makingConsumer TheoryInformation EconomicsRisk AversionUtility TheoryValue Of InformationBehavioral Consumer TheoryConsumer Choice Under Incomplete InformationConsumer Price Search BehaviorPrice-value TradeoffPricing Under Imperfect InformationQuality-price InferenceQuality-price Tradeoff

Abstract

When information on product quality is not perfect, theories in the areas of consumer rationality, inference, and risk-aversion suggest at least three consumer choice strategies: best value, price-...

References

16

Prospect Theory: An Analysis of Decision under Risk

Daniel Kahneman, Amos Tversky · Econometrica · 1979 · 47K citations

Business, Decision Sciences, Insurance +17

Conditional logit analysis of qualitative choice behavior

Daniel McFadden · eScholarship (California Digital Library) · 1972 · 14K citations

Business, Decision Sciences, Economics +14

Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence

Valarie A. Zeithaml · Journal of Marketing · 1988 · 12.7K citations · Full text

Business, Marketing, Marketing Management +17

Toward a positive theory of consumer choice

Richard H. Thaler · Journal of Economic Behavior & Organization · 1980 · 5.6K citations

Social Sciences, Economics, Marketing +14

Mental Accounting and Consumer Choice

Richard H. Thaler · Marketing Science · 1985 · 4.8K citations

Social Sciences, Economics, Marketing +17