Business, Management and Accounting
8 years ago

Consumer choice sets impact variety-seeking behavior, shaping brand preferences.

Kodo Keiryogaku (The Japanese Journal of Behaviormetrics)
A Model of Variety-Seeking Behavior Considering Choice Set
Takeshi Moriguchi, Yoshikazu Sakamaki

Paper Summary

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The study created a model to understand how people choose between different brands when shopping. They found that the size of options available affects how much people seek variety in their choices. By analyzing real shopping data, they confirmed that considering the size of choices helps predict and explain consumer behavior accurately.