A decision support model for buying battery electric vehicles considering consumer learning and psychological behavior

Yongming Song, Yanhong Li, Hongli Zhu and Guangxu Li

Journal of Retailing and Consumer Services, 2023, vol. 73, issue C

Abstract: Developments in battery electric vehicles (BEVs) have received more and more attentions in the last decades due to alleviating carbon emissions and energy crisis. Consequently, how to rank alternative BEVs to assist consumers make better purchasing decisions is a worthy research study. However, there are still some defects in the existing studies for ranking of BEVs: 1) the evaluation index system of BEVs is not comprehensive; 2) the determination of criteria weights cannot be well applied to the actual purchase scenarios; and 3) the psychological behavior of consumers is ignored. To address those shortcomings, this paper proposes a decision support model to assist with consumers to buy BEVs. First, a systematic evaluation criteria system of BEVs including quantitative and qualitative indicators from parameter configurations and online reviews is constructed. Then, a weight algorithm considering consumer learning is proposed to determine the criteria weights. Furthermore, a decision support process considering consumers' regret avoidance behavior is proposed. Finally, an actual BEV purchase case is given to illustrate the practicability of the decision support model. This can be seen in case studies the proposed support model can be well applied to consumers with different regret avoidance behaviours.

Keywords: Multiple criteria decision-making (MCDM); Battery electric vehicle; Purchase decision; Consumer learning; Regret theory (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joreco:v:73:y:2023:i:c:s0969698923000504

DOI: 10.1016/j.jretconser.2023.103303

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