Seen but not considered? Awareness and consideration in choice analysis

Anna Kristina Edenbrandt, Carl-Johan Lagerkvist, Malte Lüken and Jacob L. Orquin

Journal of choice modelling, 2022, vol. 45, issue C

Abstract: Consideration set formation (CSF) is a two-stage decision process in which people first select a subset of products to consider and then evaluate and choose from the selected subset of products. CSF models typically use stated consideration or infer it from choice data probabilistically. This study explores CSF by means of eye-tracking and evaluates how measures of visual consideration compare to stated consideration. We develop a model of CSF behavior, where stated and visual consideration are embedded in the specification of the utility function. We propose three different measures of visual consideration and show that one third of respondents (∼34%) use CSF behavior and that stated consideration diverges substantially from visual consideration. Surprisingly, many product types stated as not considered receive more visual attention, not less. Our findings suggest that stated consideration may be in part a measure of preferences rather than of consideration, implying concerns with endogeneity when including stated consideration data in choice models. Accounting for CSF in discrete choice analysis increases our understanding of the decision process, and can target concerns with biased estimates when analyzing data from two-stage decision processes.

Keywords: Eye-tracking data; Consideration set formation; Visual consideration; Choice experiment; Decision process (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S175553452200032X
Full text for ScienceDirect subscribers only

Related works:
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:eee:eejocm:v:45:y:2022:i:c:s175553452200032x

DOI: 10.1016/j.jocm.2022.100375

Access Statistics for this article

Journal of choice modelling is currently edited by S. Hess and J.M. Rose

More articles in Journal of choice modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().