A Normative Model of Consumer Information Processing
- 1 August 1984
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Marketing Science
- Vol. 3 (3) , 227-246
- https://doi.org/10.1287/mksc.3.3.227
Abstract
A model of information search is proposed which assumes that a consumer chooses the next piece of information so as to maximize his expected value of sample information. The cost of processing, the perceived correlation between attributes, and the perceived importance of attributes would all affect information choice. Three sets of propositions are derived. The model is also estimated and tested for subjects performing an information display board task.Keywords
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