Some people prefer to make risky decisions in their live, such as for avocation or even everyday decision making. Since Bauer first presented the conception of perceived risk in the decision making of consumer behavior, the role of perceived risk in product choice has attracted much attention and decisions such as choosing unknown objects have been known to be risky. Here in this study, we focu...

This paper challenges the increasingly common view that the findings of behavioural economics constitute a fourth type of market failure. The market failure framework elevates the standard competitive market model to the status of an ideal. It provides us with tools to identify departures from the ideal model and to deduce a direction policy might take to restore it. Many behavioural phenomena ...

BACKGROUND The current direction of the US Food and Drug Administration (FDA) policy on direct-to-consumer advertising (DTCA) of pharmaceuticals is a subject of debate. The literature addresses the benefits and drawbacks of DTCA, but the foundations for such policies have not been investigated in detail. OBJECTIVE This paper explores the most recent FDA guidance on broadcast DTCA based on a c...

We investigate the costs and consequences of plan choice in the ACA. In a first study, we assess the potential financial consequences of inefficient plan choices using pricing data for the several thousand plans listed on federal exchanges. In a second study, we investigate the efficiency with which consumers make plan decisions by observing hypothetical plan choices from experimentally varying...

Many research approaches are conceptualized as binary choices, representing endpoints of a spectrum (each of them providing important perspectives within their own discourses). Design and creativity are often conceptualized as being focused on one of these binary choices, thereby overlooking other possibilities. To better stimulate, enhance, and support creativity, our research has explored the...

This article summarizes the research and data currently available on different dimensions of consumer choice. These dimensions include not only whether to participate in a health care plan and which plan to select if given a choice but also the decisions that lead to having a choice and the implications of making the choice. Data are presented on what choices consumers face, how many are given ...

The current research tested the hypothesis that making many choices impairs subsequent self-control. Drawing from a limited-resource model of self-regulation and executive function, the authors hypothesized that decision making depletes the same resource used for self-control and active responding. In 4 laboratory studies, some participants made choices among consumer goods or college course op...

The current research tested the hypothesis that making many choices impairs subsequent self-control. Drawing from a limited-resource model of self-regulation and executive function, the authors hypothesized that decision making depletes the same resource used for self-control and active responding. In 4 laboratory studies, some participants made choices among consumer goods or college course op...

W apply random graph modeling methodology to analyze bipartite consumer-product graphs that represent sales transactions to better understand consumer purchase behavior in e-commerce settings. Based on two real-world e-commerce data sets, we found that such graphs demonstrate topological features that deviate significantly from theoretical predictions based on standard random graph models. In p...

2Consumer response determines the success or failure of new products and services. This paper proposes a methodology which integrates knowledge in the fields of psychometrics, utility theory, and stochastic choice theory to improve the design of new products and services. The methodology consists of a consumer response and a managerial design process. The design process is one of idea generatio...