The Customer Cannot Choose
People can choose and they make many choices each and every day. However, most people are unaware of how strong their environment influences the choices they make. In his inaugural address, Bas Donkers highlights the impact of what people see (and what they don’t see), what people experience (and what they don’t experience), or more general, the impact of salient decision characteristics. Evidence will be provided in a number of applications that range from online consumer search behavior to physician prescription behavior. The lessons to be learned from this for marketers and policymakers are highlighted in the context of pension savings decisions and health state valuations.
|Keywords||QALY, behavioral decision theory, consumer behavior, context effects, decision making, economics, marketing, mental representation, salience effects|
|JEL||Analysis of Collective Decision-Making: General (jel D70), Information, Knowledge, and Uncertainty (jel D8)|
|Publisher||Erasmus Research Institute of Management|
|Series||ERIM Inaugural Address Series Research in Management|
Donkers, A.C.D. (2013, April 12). The Customer Cannot Choose. ERIM Inaugural Address Series Research in Management. Erasmus Research Institute of Management. Retrieved from http://hdl.handle.net/1765/39716