Unstable interactions in customers’ decision making: an experimental proof

Volker Kuppelwieser, Fouad Ben Abdelaziz () and Olfa Meddeb
Additional contact information
Volker Kuppelwieser: Neoma Business School
Fouad Ben Abdelaziz: Neoma Business School
Olfa Meddeb: University of Carthage

Annals of Operations Research, 2020, vol. 294, issue 1, No 21, 479-499

Abstract: Abstract Understanding customers’ decision and behavior is the crux of marketing. Despite the broad applications of weighted sum approaches, like conjoint analysis, sophisticated methodological approaches are under-researched in this field. Conversely, multi-criteria decision making’s (MCDM) objective is to focus on and forecast these decisions. Based on the Choquet integral, this paper presents an effective and precise calculation method to understand real customers’ decision making and to overcome the weighted sum method’s limitations. We compare the weighted sum approach with stable and instable Choquet integral methods in three experimental studies. Our results indicate that the weighted sum approach is valuable in pure order-related applications. In quantitative comparisons, both the stable and instable Choquet integral approaches match the decision makers’ preferences more closely than the weighted sum approach. The paper demonstrates that well-developed traditional approaches have their merits and can still be applied in the right context.

Keywords: Multi-criteria decision making; Criteria interaction; Customer decision making; Marketing; Conjoint measurement; Weighted sum (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10479-018-2944-6 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

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:spr:annopr:v:294:y:2020:i:1:d:10.1007_s10479-018-2944-6

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10479

DOI: 10.1007/s10479-018-2944-6

Access Statistics for this article

Annals of Operations Research is currently edited by Endre Boros

More articles in Annals of Operations Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().