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Full-Text Articles in Behavioral Economics
The Existence And Perception Of Redundancy In Consumer Information Environments, Michael D. Johnson, Jerome M. Katrichis
The Existence And Perception Of Redundancy In Consumer Information Environments, Michael D. Johnson, Jerome M. Katrichis
Michael D. Johnson
Two studies are reported which examine the existence of attribute redundancy as well as consumers' ability to perceive attribute redundancy in consumer information environments. The results of the first study suggest that attribute redundancy varies widely from product category to product category. The results of the second study suggest that consumers' ability to perceive attribute relationships improves with product knowledge. Unexpected was an observed U-shaped relationship between consumers' perceptions of attribute redundancy and attribute knowledge. Together the results suggest a number of policy implications regarding the value of consumer information programs.
The Effects Of Fatigue On Judgments Of Interproduct Similarity, Michael D. Johnson, Donald R. Lehmann, David A. Horne
The Effects Of Fatigue On Judgments Of Interproduct Similarity, Michael D. Johnson, Donald R. Lehmann, David A. Horne
Michael D. Johnson
Similarity scaling often requires subjects to produce such a large number of judgments that fatigue may become a problem. Yet it remains unclear just how respondent fatigue affects similarity perceptions and resulting judgments. The present study uses a categorization perspective to examine the effects of fatigue on similarity judgments. The results suggest that subjects rely increasingly on category membership as they progress through a similarity judgment task.
Price Knowledge And Search Behavior For Habitual, Low Involvement Food Purchases, Jouni T. Kujala, Michael D. Johnson
Price Knowledge And Search Behavior For Habitual, Low Involvement Food Purchases, Jouni T. Kujala, Michael D. Johnson
Michael D. Johnson
Existing models of price search presume a direct link between knowledge and search behavior. We argue that these models are not well suited to more habitual, low involvement purchase situations where search behavior and price knowledge are more independent. An alternative, adaptive rationality model is proposed in which these constructs are only indirectly related. An empirical study of Finnish consumers' purchases of fresh produce and meat products is reported which supports the adaptive rationality model.
Attribute Abstraction, Feature-Dimensionality, And The Scaling Of Product Similarities, Michael D. Johnson, Donald R. Lehmann, Claes Fornell, David A. Horne
Attribute Abstraction, Feature-Dimensionality, And The Scaling Of Product Similarities, Michael D. Johnson, Donald R. Lehmann, Claes Fornell, David A. Horne
Michael D. Johnson
This paper examines the attributes that consumers use when making product similarity judgments and their effect on similarity scaling. Previous research suggests that concrete brands are judged using dichotomous features while more abstract product categories are judged using continuous dimensions. This, in turn, suggests that the appropriateness of spatial scaling increases relative to tree scaling as one moves from brands to product categories. The results of two studies support an increase in the fit of spaces relative to trees from brands to categories. However, the abstractness of the judgments appears to be driving the effect, not the use of features …