The effect of information on consumer choice (the case of product with new properties)

Yulia Fetisova

No 51364, 2009 Conference, August 16-22, 2009, Beijing, China from International Association of Agricultural Economists

Abstract: In the modern world very concentrated informational environment forms consumer preferences well before a potential buyer goes to the shop to make purchases. The production of new commodities triggers economic agents’ demand for objective information necessary for taking decisions about their safety or further use. This study uses economic experiment to investigate the effect of information about the product with new properties on behavior of the Russian consumers and proves that new information can alter individual perceptions and evoke response. It turns out that women are more receptive to any information concerning food products. The results also emphasize discrepancy between actual participants’ behavior and their initial estimates made in questionnaires.

Keywords: Institutional and Behavioral Economics; Marketing; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 17
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae09:51364

DOI: 10.22004/ag.econ.51364

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