A Normative Model of Consumer Information Processing

Michael R. Hagerty and David A. Aaker
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Michael R. Hagerty: University of California, Berkeley
David A. Aaker: University of California, Berkeley

Marketing Science, 1984, vol. 3, issue 3, 227-246

Abstract: A model of information search is proposed which assumes that a consumer chooses the next piece of information so as to maximize his expected value of sample information. The cost of processing, the perceived correlation between attributes, and the perceived importance of attributes would all affect information choice. Three sets of propositions are derived. The model is also estimated and tested for subjects performing an information display board task.

Keywords: search models; information search; decision making under uncertainty (search for similar items in EconPapers)
Date: 1984
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormksc:v:3:y:1984:i:3:p:227-246

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