Decision strategy and structure in households: A "groups" perspective (2005)
Abstract
From a practical perspective, (arguably) most consumer decisions are not made in isolation of the households in which consumers are inserted, yet we commonly treat them econometrically as if they were. The purpose of this workshop was to take some initial steps in defining needed research in household decision making that structurally accounts for goal sharing, utility interdependence, taste heterogeneity, choice set formation, power structures, group size and composition, and so forth. We also considered conditions under which aggregation of tastes, utility and choices might occur and make sense from both behavioral and modeling perspectives.
Bibliographic entry
Adamowicz, W., Hanemann, M., Swait, J., Johnson, R., Layton, D., Regenwetter, M., Reimer, T., & Sorkin, R. (2005). Decision strategy and structure in households: A "groups" perspective. Marketing Letters, 16, 387-399.
Miscellaneous
| Publication year | 2005 | |
|---|---|---|
| Document type: | Article | |
| Publication status: | Published | |
| External URL: | ||
| Categories: | Expected UtilityMarketingConsumer Behavior | |
| Keywords: | choice modelingeconomic models of decision makinghousehold choice behaviorhousehold decision making |