Context Effects as Element of the Theory of Consumer Choice Cover Image

Efekty kontekstowe jako element teorii wyboru konsumenta
Context Effects as Element of the Theory of Consumer Choice

Author(s): Anna Wielicka-Regulska
Subject(s): Business Economy / Management, Behaviorism, Marketing / Advertising, Socio-Economic Research
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: context effects; attraction (decoy effect); similarity effect; compromise effect; theory of consumer choice; preference theory; consumer behavior;

Summary/Abstract: The theory of consumer choice assumes that consumers’ decisions can be analyzed in terms of probability, and that consumer preferences may be recognized on the basis of their choices (with the assumed coherence of preferences). This is a review article describing the so-called ‘context effects’, which modify significantly purchase decisions taken by consumers. Context effects mean that the attractiveness of a given product depends on the availability or non-availability of some other products, which calls into question the standard choice model. The paper describes three context effects most commonly mentioned in the literature: attraction or decoy effect, similarity effect, and compromise effect. The author explains the conditions conducive to their emergence, as well as their theoretical and practical significance.

  • Issue Year: 2017
  • Issue No: 2
  • Page Range: 159-174
  • Page Count: 16
  • Language: Polish
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