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Customer Equity Management (CEM) is not only a method to analyze future customers’ behavior but also a segmentation tool for identifying customers that deliver a great value to a company and those that should be eliminated from a company’s customer portfolio. One problem companies in...
Si les informations clients sont une source de valeur majeure pour les entreprises, leur collecte est confrontée aux préoccupations grandissantes des consommateurs quant au respect de leur vie privée, notamment sur Internet. La littérature américaine segmente traditionnellement la...
A theory of decision making is proposed that offers an axiomatic basis for the notion of satisficing postulated by Herbert Simon. The theory relaxes the standard assumption that the decision maker always fully perceives his preferences among the available alternatives, requiring instead that his...
We study two boundedly rational procedures in consumer behavior. We show that these procedures can be detected by conditions on observable demand data of the same type as standard revealed preference axioms. This provides the basis for a non-parametric analysis of boundedly rational consumer...
“Green” consumers appear to accept individual responsibility for public good provision. The propensity to take such responsibility may depend on beliefs about others’ behavior, even for consumers motivated by internalized moral norms, not by social sanctions. This can produce multiple...
The paper introduces the concept of adjustment utility, that is, referencedependent utility from expectations. It offers an explanation for observed preferences that cannot be explained with existing models, and yields new predictions for individual decision making. The model gives a simple...
Is discounting of future instantaneous utilities consistent with altruism towards future selves? More precisely, can temporal preferences, expressed as a sum of discounted instantaneous utilities, be derived from a representation in the form of a sum of discounted total utilities? We find that a...