Consumer Satisfaction in Experimental Setting Cover Image

Потребителското удовлетворение в експериментални условия
Consumer Satisfaction in Experimental Setting

Author(s): Nickolay Georgiev, George Mengov
Subject(s): Economy, Micro-Economics
Published by: Софийски университет »Св. Климент Охридски«
Keywords: Consumer satisfaction; economic experiment; econometrics; multinomial logit modeling

Summary/Abstract: We conducted an experiment in economic psychology investigating the role of consumer satisfaction in the choice of future supplier of a fictitious good. By adopting a statistical approach with an econometric slant, we obtained a regression model achieving Radj2 of almost 0.80, a figure which was confirmed with an additional test sample. Further, a multinomial logit model predicted correctly which supplier among four competitors would be chosen in 37.87% of all 272 cases, a substantial increase above the 25% prior probability. Yet, certain methodological issues have emerged that cannot be easily dealt with within the traditional statistical approach.

  • Issue Year: 11/2013
  • Issue No: 1
  • Page Range: 97-111
  • Page Count: 15
  • Language: Bulgarian