ERIC Number: EJ1017452
Record Type: Journal
Publication Date: 2013
Abstractor: As Provided
Reference Count: 34
Matching, Demand, Maximization, and Consumer Choice
Wells, Victoria K.; Foxall, Gordon R.
Psychological Record, v63 n2 p239-258 Spr 2013
The use of behavioral economics and behavioral psychology in consumer choice has been limited. The current study extends the study of consumer behavior analysis, a synthesis between behavioral psychology, economics, and marketing, to a larger data set. This article presents the current work and results from the early analysis of the data. We discuss choice patterns of consumers in terms of matching, maximization, and demand, and the study applies behavioral psychology to consumers, observed choice patterns. Strong support is shown for matching as well as maximization and support of the multibrand patterns observed by Ehrenberg (1988) and colleagues. Demand patterns observed are generally downward sloping, although some exceptions are found. Similar results are found in earlier studies, and conclusions are positive in the possible marketing uses of consumer behavior analysis.
Descriptors: Consumer Economics, Psychology, Marketing, Decision Making, Behavior Patterns, Supply and Demand, Data Analysis, Food, Merchandise Information, Regression (Statistics)
Southern Illinois University Carbondale. Mailcode 4609, Rehabilitation Institute, Carbondale, IL 62901-4609. Tel: 618-536-7704; e-mail: email@example.com; Web site: http://www.siuc.edu/~ThePsychologicalRecord/index.html
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Authoring Institution: N/A