Do the choices of consumers who search for a product's best price exhibit risk neutral, risk averse or loss averse risk attitudes? We study how in a problem of sequential search with costless recall the relation between a consumer's willingness to pay for continued search and the level of price...

Cars have long been considered goods that symbolize status, yet few studies integrate the impact of symbolic and affective motives on the car buying decisions, with even fewer studies focusing on the influence of these motives on Eastern European consumers' buying behaviour. The aim of this...

Literature in economics and psychology on moral behaviour explores the contexts in which people act in ways that are consistent or inconsistent with their past actions. Such inconsistencies appear to violate economists' assumption of rational consumer behaviour. In this note we show that a...

We propose a consistent utility-based framework to jointly explain a household's decisions on purchase incidence, brand choice and purchase quantity. The approach differs from other approaches, currently available in the literature, as it is able to take into account consumption dynamics. In the...

This paper shows that the correlation between the Net Promoter Score and consumers' Willingness To Pay in five European mobile markets is very strong. The Net Promoter Score is provided by a survey and the Willingness To Pay is calculated using the "Spokes Model" which is an economic model based...

Cost cap tariffs are pay-per-use tariffs for which costs cannot exceed a predefined cost limit. They were recently introduced to telecommunications markets, but were previously also applied in the insurance industry as deductibles or in the rental industry as day rates. This paper develops and...

Loss aversion, the fact that losses have a greater impact than gains, is a fundamental property of behavioral accounts of choice. In this paper, we suggest four possible characterizations of the relative impact of losses and gains: (1) It could be a constant, such as the much cited value of 2,...

The silver lining effect predicts that segregating a small gain from a larger loss results in greater psychological value than does integrating them into a smaller loss. Using a generic prospect theory value function, we formalize this effect and derive conditions under which it should occur. We...

In today’s era Greenwashing refers to the practice of making untruthful or misleading environmental claims about a product or service in order to appeal eco-conscious consumers. The consumer awareness about greenwashing has increased in present day as people have become more alarmed about the...

In purchase behavior research, the personal dispositions of consumers can play a decisive role. This becomes relevant especially in very narrow target groups when socio-demographic constraints are very similar. In the present study, three types of continuity and change in the Big Five...