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Full-Text Articles in Business
The Effect Of Consideration Set On Market Structure, Jun B. Kim
The Effect Of Consideration Set On Market Structure, Jun B. Kim
Asia Marketing Journal
We estimate a choice-based aggregate demand model accounting for consumers" consideration sets, and study its implications on market structure. In contrast to past research, we model and estimate consumer demand using aggregate-level consumer browsing data in addition to aggregatelevel choice data. The use of consumer browsing data allows us to study consumer demand in a realistic setting in which consumers choose from a subset of products. We calibrate the proposed model on both data sets, avoid biases in parameter estimates, and compute the price elasticity measures. As an empirical application, we estimate consumer demand in the camcorder category and study …
Effect Of Social Norm On Consumer Demand: Multiple Constraint Approach, Sungjee Choi, Inwoo Nam, Jaehwan Kim
Effect Of Social Norm On Consumer Demand: Multiple Constraint Approach, Sungjee Choi, Inwoo Nam, Jaehwan Kim
Asia Marketing Journal
The goal of the study is to understand the role of social norm in purchase decisions where demand is revealed in the form of multiple-discreteness. Consumers are socially engaged in various activities through the expectation from others in their community. Actions or decisions are likely to reflect this influence. This implicit or explicit social norm is revealed as the rules, regulations, and standards that are understood, shared, endorsed, and expected by group members. When consumers’ decisions are in distance from the norm, they come to face discomfort such as shame, guilt, embarrassment, and anxiety. These pressure act as a constraint …