http://repub.eur.nl/res/aut/14140/ List of Publications en http://repub.eur.nl/static-eur/img/logo.png http://repub.eur.nl http://repub.eur.nl/res/pub/11112/ 2001-01-01T00:00:00Z This study investigates the impact of choice complexity on consumer utility and choice. The authors find that for choices with up to seven alternatives and seven attributes choice accuracy is affected by three context-based complexity effects but not by task-based complexity. The results suggest that brands that are able to create products that outperform competing products and that do so consistently across multiple attributes benefit from a double bonus. Not only is their product more attractive to consumers, but the accuracy with which consumers choose the product also increases, leading to a further increase in the brand's market share http://repub.eur.nl/res/pub/11113/ 2001-01-01T00:00:00Z This paper develops a theoretical model of optimal effort in consumer choice. The model extends previous consumer choice models in that the consumer not only chooses a product, but also decides how much effort to apply to a given choice problem. The model yields a unique optimal level of effort, which depends on the consumer's cost of effort, the expected utility gain of a correct choice, and the complexity of the choice set. We show that the relationship between effort and cost of effort is negative, whereas the relationships between effort and product utility difference and choice task complexity are undetermined. To resolve this theoretical ambiguity and to explore our model empirically, we investigate the relationships between effort and cost of effort, product utility difference and choice task complexity using data from a conjoint choice study of two-alternative consumer restaurant choices. Response time is used as a proxy for effort and consumer involvement measures capture individual differences in (relative) cost of effort and perceived complexity. Effort is explained using the (estimated) utility difference between alternatives, the number of elementary information processes (EIP's) required to solve the choice problem optimally and respondent specific cost of effort and complexity perceptions. The predictions of the theoretical model are supported by our empirical findings. Response time increases with lower cost of effort and greater perceived complexity (i.e. higher involvement). We find that across the range of choice tasks in our survey, effort increases linearly with smaller product utility differences and greater choice task complexity. http://repub.eur.nl/res/pub/11114/ 2000-01-01T00:00:00Z In this study we develop and test an econometric model for combining choice and preference ratings data collected from the same set of individuals. Choice data are modeled using a multinomial logit framework, while preference data are modeled using an ordered response equation. Individual heterogeneity is allowed for via random coefficients providing a link between the choice and ratings data. Parameters are estimated by Simulated Maximum Likelihood. An application of the model to consumer yoghurt choice in The Netherlands found that ratings based preference estimates differ significantly from choice based estimates, but the correlation between random coefficients driving the two is very strong