The behavioral economics of consumer brand choice

Foxall, Gordon Robert ORCID: https://orcid.org/0000-0002-3572-6456 and Schrezenmaier, T. C. 2003. The behavioral economics of consumer brand choice. Presented at: Society for the Quantitative Analyses of Behavior 2003 Conference, San Francisco, CA, USA, 23-24 May 2003.

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Abstract

Matching theory predicts choices on concurrent variable ratio schedules will show maximization via exclusive choice of the richest schedule. In earlier papers we have reported patterns of brand selection data from individual consumers which show that consumer behavior exhibits both matching and maximization. In this paper we report the results of a study of 80 consumers' brand selections for 8 product categories which indicate that the patterns identified in our initial research can be generalized. We discuss the implications of our findings for research in the behavioral economics of consumption in marketing-oriented economies and for the issue of what and how consumers maximize.

Item Type:	Conference or Workshop Item (Paper)
Date Type:	Completion
Status:	Unpublished
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory
Last Modified:	25 Oct 2022 08:10
URI:	https://orca.cardiff.ac.uk/id/eprint/51657

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