In this paper we propose the use of preferred outcome distributions as a new method to elicit individuals’ value and probability weighting functions in decisions under risk. Extant approaches for the elicitation of these two key ingredients of individuals’ risk attitude typically rely on a...

This paper focuses on the process by which consumers and producers interact to create better value for consumers. This happens in many situations but is arguably most prominent in mass-customization, an area that has recently gained a lot of popularity among manufacturers (Business Week, March...

A potentially powerful way to assist consumers in making dynamic shopping decisions is to disclose price information to them before they shop, for example by posting prices on the Internet. This paper addresses the differential impact of disclosing either only current, or both current and future...

Technology-intensive markets consist of products that are often interdependent and operate together as a modular system. Although prior research addressed standardization and network externalities in such markets extensively, it has not addressed the buying of modular systems. The authors...

How consumer's waiting times affect their retrospective evaluations of Internet Web Sites is investigated in four computer-based experiments. Results show that waiting can but does not always negatively affect evaluations of Web Sites. Results also show that the potential negative effects of...

In this article, the authors investigate consumers' consideration of media channels during different usage situations. They develop a model that explains consumers' media channel consideration as a function of the media channel's perceived benefits. In addition, they hypothesize that the usage...

This paper describes an application of hierarchical information integration (HII) discrete choice experiments. We assessed theoretical and construct validity, as well as internal consistency, to investigate whether HII can be used to investigate complex multi-faceted health-care decisions...

We introduce a utility theory-based model of consumers' mental representation of attributes and benefits in decisions between complex alternatives. The model relies on the fact that there are cognitive costs and gains to activating additional decision components in mental representations. The...

Network formation among individuals constitutes an important part of many OR processes, but relatively little is known about how individuals make their linking decisions in networks. This article provides an investigation of heuristic effects in individual linking decisions for network formation...

The allocation of scarce health care service resources often requires trade-offs between individual and collective outcomes (e.g., when some individuals benefit more strongly from a given policy than others). Based on construal level theory, one would expect that consumers cognitively represent...