The Library
Multi-attribute decision by sampling : an account of the attraction, compromise and similarity effects
Tools
Tools
Tools
Ronayne, David and Brown, G. D. A. (Gordon D. A.) (2016) Multi-attribute decision by sampling : an account of the attraction, compromise and similarity effects. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1124). (Unpublished)
|
PDF
WRAP-twerp_1124_Ronayne.pdf - Other - Requires a PDF viewer. Download (1130Kb) | Preview |
|
![[img]](http://wrap.warwick.ac.uk/style/images/fileicons/application_pdf.png) |
PDF
WRAP_twerp_1124_ronayne.pdf - Other Embargoed item. Restricted access to Repository staff only - Requires a PDF viewer. Download (1009Kb) |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
Consumers’ choices are typically influenced by choice context in ways that standard models cannot explain. We provide a concise explanation of the attraction, compromise and similarity effects. Value is assumed to be determined by simple dominance relations between choice
options and sampled comparators, and selection of comparators is assumed to be systematically influenced by the choice options. In one experiment, participants viewed differing selections of market options prior to choice. The classic context effects appeared and disappeared as
predicted. In the second experiment, individuals’ sampling distributions of market options were influenced by the choice set as predicted by the model.
| Item Type: | Working or Discussion Paper (Working Paper) | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HB Economic Theory | ||||
| Divisions: | Faculty of Social Sciences > Economics | ||||
| Library of Congress Subject Headings (LCSH): | Consumers' preferences, Decision making | ||||
| Series Name: | Warwick economics research papers series (WERPS) | ||||
| Publisher: | University of Warwick. Department of Economics | ||||
| Place of Publication: | Coventry | ||||
| ISSN: | 0083-7350 | ||||
| Official Date: | June 2016 | ||||
| Dates: |
|
||||
| Number: | 1124 | ||||
| Number of Pages: | 54 | ||||
| Institution: | University of Warwick | ||||
| Status: | Not Peer Reviewed | ||||
| Publication Status: | Unpublished | ||||
| Access rights to Published version: | Open Access | ||||
| Description: | JEL: C9, D03, D12 |
||||
| Funder: | University of Warwick. Department of Economics. Warwick Policy Lab, Economic and Social Research Council (Great Britain) (ESRC), Leverhulme Trust (LT) | ||||
| Grant number: | ES/K002201/1 (ESRC), RP2012-V-022 (LT) |
Request changes or add full text files to a record
Repository staff actions (login required)
 |
View Item |
