How Consumers Decide to Adopt New Products: A Descriptive Model.

A descriptive model of boundedly rational adoption behavior of consumers is developed. This model is based on prospect theory proposed by Kahneman and Tversky and on the discrepancy model, an adaptive learning model, often used in social psychology. It is shown that a normative model of rational adoption behavior is a special case of this new decision analytic model.

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Year of publication:	1996
Authors:	Klophaus, R.
Subject:	CONSUMPTION \| DECISION MAKING \| ECONOMIC MODELS

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Type of publication:	Book / Working Paper
Notes:	13 pages
Classification:	E20 - Consumption, Saving, Production, Employment, and Investment. General ; D10 - Household Behavior and Family Economics. General ; D11 - Consumer Economics: Theory
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005780034