The Relationship between Attributes, Brand Preference, and Choice: A Stochastic View

This paper draws from two separate research traditions in marketing theories of consumer behavior: multiattribute expectancy-value models and stochastic choice models. A behavioral basis for the observed brand-switching phenomenon is found in the multiattributed evaluation of alternatives and the uncertainty surrounding such evaluation. A model is proposed to deal with this phenomenon and is fitted against a comprehensive data set. The model is found to compare favorably in predictive value with other models.