We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … by rational choice. Our results suggest that nonforced-choice experiments and models can be helpful in separating people …

In this paper we study decision making in situations where the individual's preferences are not assumed to be complete … incomparability based on observable data. A simple extension of this model also incorporates decision costs and provides a theoretical …

exist in decision making. The study also tries to recognize the prime factors responsible for directing the consumer …’s purchasing decision towards the commodity. The study finds out that the Behavioural traits influence the decision-making approach … while purchasing the commodity and how prominent factors direct the consumer decision …

This paper analyzes a boundedly rational decision maker who is uncertain about his preference and faces the following …-off there is an optimal number of goods that the decision maker wants to analyze before making his final choice. The choice of … with good consumer service can be a signal for high quality of the store. -- Decision making ; Bounded rationality ; Choice …

When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to …

The idea that consumers are rational decision makers, who carefully consider options when making a decision about a … consumer decision making is complex rather than simple as portrayed by orthodox economic models. Businesses need to fully … understand the consumer decision making processes for them to thrive in the current competitive business environment which is now …

exist in decision making. The study also tries to recognize the prime factors responsible for directing the consumer …’s purchasing decision towards the commodity. The study finds out that the Behavioral traits influence the decision-making approach … while purchasing the commodity and how prominent factors direct the consumer decision …

expect a decision maker to distinguish between different time periods or different prizes? Our key premise is that cognitive …