Mental Accounting and Consumer Choice
2008; Institute for Operations Research and the Management Sciences; Volume: 27; Issue: 1 Linguagem: Inglês
10.1287/mksc.1070.0330
ISSN1526-548X
Autores Tópico(s)Consumer Market Behavior and Pricing
ResumoAnew model of consumer behavior is developed using a hybrid of cognitive psychology and microeconomics. The development of the model starts with the mental coding of combinations of gains and losses using the prospect theory value function. Then the evaluation of purchases is modeled using the new concept of “transaction utility.” The household budgeting process is also incorporated to complete the characterization of mental accounting. Several implications to marketing, particularly in the area of pricing, are developed. This article was originally published in Marketing Science, Volume 4, Issue 3, pages 199–214, in 1985.
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