Incorporating Behavioral Anomalies in Strategic Models

Chakravarthi Narasimhan (), Chuan He, Eric Anderson, Lyle Brenner, Preyas Desai, Dmitri Kuksov, Paul Messinger, Sridhar Moorthy, Joseph Nunes, Yuval Rottenstreich, Richard Staelin, George Wu and Zhong Zhang

Marketing Letters, 2005, vol. 16, issue 3, 373 pages

Abstract: Behavioral decision researchers have documented a number of anomalies that seem to run counter to established theories of consumer behavior from microeconomics that are often at the core of analytical models in marketing. A natural question therefore is how equilibrium behavior and strategies would change if models were to incorporate these anomalies in a consistent way. In this paper we identify several important and generalizable anomalies that modelers may want to incorporate in their models. We briefly discuss each phenomenon, identify a key unresolved issue and outline a research agenda to be pursued. Copyright Springer Science + Business Media, Inc. 2005

Keywords: marketing strategy; game theory; reference dependence; fairness; confirmatory bias (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (12)

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DOI: 10.1007/s11002-005-5898-9

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