Multi-attribute decision by sampling: An account of the attraction, comprimise and similarity effects

David Ronayne and Gordon D.A. Brown
Additional contact information
Gordon D.A. Brown: Department of Psychology, University of Warwick

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: Consumers' choices are typically influenced by choice context in ways that standard models cannot explain. We provide a concise explanation of the attraction, compromise and similarity effects. Value is assumed to be determined by simple dominance relations between choice options and sampled comparators, and selection of comparators is assumed to be systematically influenced by the choice options. In one experiment, participants viewed differing selections of market options prior to choice. The classic context effects appeared and disappeared as predicted. In the second experiment, individuals' sampling distributions of market options were influenced by the choice set as predicted by the model.

Keywords: consumer choice; decision-making; context effects; sampling. (search for similar items in EconPapers)
JEL-codes: I30 I31 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-dcm, nep-ger, nep-neu and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://warwick.ac.uk/fac/soc/economics/research/w ... erp_1124_ronayne.pdf

Related works:
Working Paper: MULTI-ATTRIBUTE DECISION BY SAMPLING: AN ACCOUNT OF THE ATTRACTION, COMPROMISE AND SIMILARITY EFFECTS (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:1124

Access Statistics for this paper

More papers in The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Margaret Nash ().