- A-Z
- Jena Economics Rese...
- Volume 5
- Do consumers prefer...
- Autor(in)
- Erschienen
- 12. Oktober 2011
- Nummer des Discussion-Papers
-
2011-044
- Schlagwort(e)
-
Bounded Rationality
Cognitive Limitations
Common Standards
Consumer Choice
Experimental Economics
Heuristics
Libertarian Paternalism
Pricing Formats
Spurious Complexity
- Zusammenfsg.
-
Consumers make mistakes when facing complex purchasing decision problems but if at least some consumers choose only among offers that are easy to compare with others then firms will adopt common ways to present their offers and thus make choice easier (Gaudeul and Sugden, 2011). We design an original experiment to identify consumers’ choice heuristics in the lab. Subjects are presented with menus of offers and do appear to favour offers that are easy to compare with others in the menu. While not all subjects do so, this is enough to deter firms from introducing spurious complexity in the way they present products.
- article pub. typess JER
- Research article
- article languages JER
- Englisch
- JEL-Classification for JER
- D83 - Search; Learning; Information and Knowledge; Communication; Belief ; L13 - Oligopoly and Other Imperfect Markets ; D18 - Consumer Protection
- URN
- urn:nbn:de:urmel-04a9ff7a-00b3-4df6-b89a-81729275ae134-00212384-16