The ability of consumers to make rational sequential purchase quantity decisions under imperfect knowledge about future prices in a product category is explored. Normatively, a consumer should make such decisions by defining a series of reservation prices which define how many buying-periods'...

This article examines how unexpected changes in the marketing mix of one product in a retail setting can influence demand for other, unrelated, items. Results from two laboratory studies show that spillover effects can occur in response to both positive and negative changes in either the price...

No Abstract Available

In collaborating to compete, firms forge different types of strategic alliances: same-function alliances, parallel development of new products, and cross-functional alliances. A major challenge in the management of these alliances is how to control the resource commitment of partners to the...

A general model for the behavioral analysis of traveler decision making is described. The model is one which blends research in human information processing with probabilistic choice theory. The model is used as a basis for discussing two studies of grocery store choice behavior. In these...

We explore the rational effect of price variation on sales and consumption in markets where consumers are uncertain about the future price of goods. We first derive an optimal ordering policy which expresses the amount a consumer should purchase and consume in a given period as a function of the...

The process by which individuals learn from feedback when making recurrent choices among ambiguous alternatives is explored. We describe an experiment in which subjects solve a variant of the classic armed-bandit problem of dynamic decision theory, set in the context of airline choice. Subjects...

No abstract available.

An algebraic model of the consumer information search process is described. The model is one which seeks to describe the nature of decision making during search, including how consumers form expectations with respect to sets of potential choice alternatives, decide which alternatives to “focus...