Decision Strategy and Structure in Households: A “Groups” Perspective

Wiktor Adamowicz, Michel Hanemann (hanemann@are.berkeley.edu), Joffre Swait, Reed Johnson (frjohnson@rti.org), David Layton (dflayton@u.washington.edu), Michel Regenwetter (regenwet@uiuc.edu), Torsten Reimer (t.reimer@unibas.ch) and Robert Sorkin (sorkin@ufl.edu)

Marketing Letters, 2005, vol. 16, issue 3, 387-399

Abstract: From a practical perspective, (arguably) most consumer decisions are not made in isolation of the households in which consumers are inserted, yet we commonly treat them econometrically as if they were. The purpose of this workshop was to take some initial steps in defining needed research in household decision making that structurally accounts for goal sharing, utility interdependence, taste heterogeneity, choice set formation, power structures, group size and composition, and so forth. We also considered conditions under which aggregation of tastes, utility and choices might occur and make sense from both behavioral and modeling perspectives. Copyright Springer Science + Business Media, Inc. 2005

Keywords: household decision making; household choice behavior; choice modeling; economic models of decision making (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (16)

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DOI: 10.1007/s11002-005-5900-6

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