In previous notes, we introduced the primary building blocks of the consumer choice problem budget sets, preferences, and the represetation of preference by utility functions. In this note we combine these elements to solve the consumers problem. Recall that informally, the consumer’s problem (as envisioned by the economist) is to make oneself as well of as one can. Formally we might write the ...

Psychological research has demonstrated important parallels between the structural alignment process involved in judgments of similarity and the processes that are involved in analogical reasoning. Gradually, this work on comparisons was applied to consumer choice. In this paper, we review the influence of structural alignment on choices among a set of options. Then, we discuss extensions of th...

We describe what can be gained from connecting cognition and consumer choice by discussing two contexts ripe for interaction between the two fields. The first-context effects on choice-has already been addressed by cognitive science yielding insights about cognitive process but there is promise for more interaction. The second is learning and representation in choice where relevant theories in ...

Vol. XLIII (May 2006), 259–266 259 © 2006, American Marketing Association ISSN: 0022-2437 (print), 1547-7193 (electronic) *Uzma Khan is Assistant Professor of Marketing, Tepper School of Business, Carnegie Mellon University (e-mail: [email protected]). Ravi Dhar is George Rogers Clark Professor of Management and Marketing, School of Management, Yale University (e-mail: [email protected]). T...

States that the concept of marketing is regarded with suspicion by many in education because of its commercial implications. Marketing is seen as a potential tool for the application of market forces and is therefore regarded as ethically undesirable. Argues that the methods and ideology of commercial marketing, if properly understood and correctly applied by professionals in education, can be ...

What are the determinants of consumer choice over payment mechanisms? The answer to this question is important for a variety of reasons. Every government has the responsibility of supporting an efficient and effective payment system. Doing so is an explicit mandate of the Federal Reserve Bank in the United States. In addition, nothing is more central to private sector commerce than collecting p...

This is a preliminary draft. All comments and suggestions are welcome. Please do not quote without the author's permission. and in particular to the king of advisors, Don Lehmann, whom the author hopes he grows up to be like someday. ABSTRACT We explore consumer responses to stockouts, both in terms of consumer satisfaction with the decision process, and in terms of subsequent store choice beha...

despite progress towards greater public engagement, questions about the optimal approach to access public preferences remain unanswered. we review two increasingly popular methods for engaging the public in healthcare priority-setting and determining their preferences; the citizens’ jury (cj) and discrete choice experiment (dce). we discuss the theoretical framework from which each method is de...