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Theoretical and empirical studies of consumer scheduling behavior usually ignore that consumers have more flexibility to adjust their schedule in the long run than in the short run. We are able to distinguish between long-run choices of travel routines and short-run choices of departure times...
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) industry. I present an empirical discrete-choice model of limited information on the part of consumers, where advertising …
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more efficient appliances is the display of energy-related information in the form of energy-efficiency labels on electric … literacy. Thus, two questions arise when it comes to the display of energy-related information on appliances: (1) What kind of … information should be displayed to enable consumers to make rational and efficient choices? (2) What abilities and prior knowledge …
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By combining a theory of herding behavior with the phenomenon of availability heuristic, this paper shows that non-informative advertisements can affect people’s choices by influencing their perception of product quality. We present a model in which people can learn about product quality by...
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We present a theory of how advertising can break a lock-in by distorting beliefs about market shares in markets with network externalities. On the background of the availability heuristic we assume that people learn about market shares by observing product adoption of others, but are not able to...
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