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How Do Consumers Make Choices? A Summary of Evidence from Marketing and Psychology

Zakaria Babutsidze

No 2007-005, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: In this paper I review the evidence from marketing and psychology literature about the purchase behavior of consumers. I concentrate on the characteristics of the choice process, choice of the external information source and nature of the information obtained from these sources. The impact of important systematic differences among consumers and products on choice behavior is also discussed.

Keywords: Consumer Choice; Information; Decision-making; Marketing (search for similar items in EconPapers)
JEL-codes: D81 D91 M31 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (5)

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