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...

The processes of consumer preference formation during product learning are analyzed. A hypothesis about how individuals form attribute expectations is used to derive a dynamic multinomial logit model of individual choice which endogenously recognizes product learning. The model and its...

Are there general algebraic laws which describe how consumers make choices from sets of alternatives? In this paper we review the verdict of research which has sought to answer this question. We focus on the functional forms which have been found to best characterize three component processes of...