Service Demand of Consumers with Random Perceptions

Dong-Joo Moon ()
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Dong-Joo Moon: Seoul National University

Chapter Chapter 4 in Congestion-Prone Services Under Quality Competition, 2011, pp 61-84 from Springer

Abstract: Abstract The previous two chapters have analyzed qualitative choice problems constructed under the condition that consumers have deterministic perception for qualitative attributes packed in a given service. Under this assumption, qualitative choice problems give the revealed preference condition that deterministically identifies the option chosen by consumers; that is, the chosen option does not vary as long as the values of quantitative variables such as price and service time do not change. Contrary to this assumption, actual consumers, in real life situations, change their choices of options for a particular service from time to time, even though the values of quantitative variables do not change.

Keywords: Random Vector; Demand Function; Reduced Form; Choice Problem; Indirect Utility (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-642-20189-9_4

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DOI: 10.1007/978-3-642-20189-9_4

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