Modeling Simultaneous Multiple Goal Pursuit and Adaptation in Consumer Choice

2018 ◽  
Vol 55 (3) ◽  
pp. 352-367 ◽  
Author(s):  
Joffre Swait ◽  
Jennifer Argo ◽  
Lianhua Li
Keyword(s):  
Consumer Choice ◽  
Choice Behavior ◽  
Choice Model ◽  
A Priori ◽  
Goal Pursuit ◽  
New Product ◽  
Policy Implications ◽  
Digital Cameras ◽  
Multiple Goal ◽  
Proposed Model

Goals are constructs that direct choice behavior by guiding a decision maker toward desirable (or away from undesirable) end states. Often, consumers are motivated to satisfy multiple goals within a single choice. Although previous research has recognized this possibility, it has not directly formulated models of choice as a multigoal problem. The authors develop such a model, referred to as the multiple-goal-based choice model, which incorporates (1) simultaneous multiple goal pursuit and (2) context-driven goal adaptation but (3) does not require a priori identification of the number or nature of the goals. Goal adaptation within a single choice instance, allied to repeated choices, is the key to empirical identification of multiple latent goals. The proposed model is tested and supported using discrete choice experimental data on digital cameras through multiple validation exercises. The model can lead to significantly different policy implications with regard to consumers’ valuation for new product designs, compared with extant utility-based choice models.

Mode Choice Behavior Analysis by Using a Semi-Compensatory Discrete Choice Model

2013 ◽  
Vol 838-841 ◽  
pp. 3300-3304
Author(s):  
Chong Wei ◽  
Lin Xiao ◽  
Chun Fu Shao
Keyword(s):  
Discrete Choice ◽  
Posterior Distribution ◽  
Choice Behavior ◽  
Data Augmentation ◽  
Choice Model ◽  
Mode Choice ◽  
Estimation Procedure ◽  
Bayes Theorem ◽  
Proposed Model ◽  
Conjunctive Rule

In this study we proposed a semi-compensatory model to analyze the mode choice behavior. The proposed model formulated the conjunctive rule through a straightforward way. The proposed model can take into account the probability distribution of the threshold involved by the conjunctive rule. To estimate the parameters of the proposed model, we derived the posterior distribution of the parameters by using the Bayes theorem and developed a blacked Metropolis-Hastings algorithm to carry out the estimation based on the posterior distribution. We also employed the data augmentation technology to simplify the estimation procedure. The proposed model was validated by using a SP survey dataset. We compared the performance of the proposed model to that of the logit model.

scholarly journals Effect of Height on Pedestrian Route Choice between Stairs and Escalator

2014 ◽  
Vol 2014 ◽  
pp. 1-6 ◽  
Author(s):  
Qian Li ◽  
Changxu Ji ◽  
Limin Jia ◽  
Yong Qin
Keyword(s):  
Choice Behavior ◽  
Choice Model ◽  
Route Choice ◽  
Interesting Phenomenon ◽  
Selection Probability ◽  
Route Choice Behavior ◽  
Average Accuracy ◽  
Proposed Model ◽  
Transfer Stations ◽  
Alternative Choice

In order to overcome the subjectivity of existing pedestrian route choice models, an alternative choice model is presented based on the utility equation. It is composed of several indirectly objective characteristic variables, including the height, length, and width of interlayer facilities; speed of automated facilities; and carry-on luggage. Considering the scene that pedestrians choose between the stairs or escalators, an extended binary logit model is developed. Calibration and validation of the model are accomplished by using the data collected in four typical passenger transfer stations in Beijing, China. The results show that the proposed model has an average accuracy of 86.56% in bidirection for predicting pedestrians’ behavior. An interesting phenomenon can be found that the length of facility has poorer impact than height on pedestrians’ route choice behavior. Some quantitative and irradiative conclusions have been illustrated on the relationship between the selection probability and the variables, which is expected to be valuable for extracting the implicit theoretical mechanism of passenger choice behavior.

An Empirical Study of Store Choice Model: An Endogenous Construct

2014 ◽  
Vol 4 (2) ◽  
Author(s):  
Prof. Amit Shrivastava ◽  
Prof. Sushil Kumar Pare ◽  
Prof (Dr) Saumya Singh
Keyword(s):  
Empirical Research ◽  
Consumer Choice ◽  
Choice Model ◽  
Social Science Research ◽  
Product Category ◽  
Science Research ◽  
Consumer Decision Making ◽  
Store Choice ◽  
Store Attributes ◽  
Patronage Intention

Inadequate is the empirical research on store choice model in view of retail store attributes with endogenous construct of store patronage intention of consumer. Conventional wisdom and social science research-based insights for underpinning the design of store environment established elements such as music, scent, crowding and physical attractiveness of the store. Earlier empirical findings lack on key anterior, which include consumers’ time and effort as well as the psychological costs such as convenient, economical, risk mitigated shopping experience. The premise on which overall effects in our model rests, is that store attributes influence consumers' cognitive process and develop perceptual framework of store choice criteria — namely, convenience, reputation of outlet, branded merchandise (mediated through perceived quality). This research presents a formal test of the linear regression equation model in the context of store choice behaviour, involving one product category. The present paper explores these attributes and their affect on consumer from different socio-economic classes, willingness to purchase and to patronize if these factors are modified. Questioning the earlier conclusions that all attributes aforementioned are equally important in consumer decision making, the current results indicate that consumers place differential significance on each attribute, and the level of significance placed on each attribute varies with different socio economic class. These findings are significantly important to the retail industry as they identify the critical attributes responsible for building consumer choice and patronage among different socio economy classes. This model also paves way for another premise of empirical research, that shoppers might develop category-wise store choice or patronage behaviour model.

A Study on Behavioral Intention of Consumers Purchasing Fine Decoration Residence Based on Logit Model

2013 ◽  
Vol 838-841 ◽  
pp. 3208-3211 ◽  
Author(s):  
Ying Wang ◽  
Jing Guo
Keyword(s):  
Willingness To Pay ◽  
Behavioral Intention ◽  
Consumer Choice ◽  
Logit Model ◽  
Choice Behavior ◽  
Main Factors ◽  
Consumer Choice Behavior

This paper use the investigation data of Xi'an as the foundation, to examine consumer choice behavior of fine decoration residence. It analyzes the main factors which influence consumer choice behavior of fine decoration residence by using logit model. The results show that culture degree of consumer, understanding of fine decoration residence, willingness to pay as well as views on the quality of the decoration and style of fine decoration residence have a significant impact on consumer decisionmaking behavior in purchasing.

scholarly journals Loss Aversion and Consumption Choice: Theory and Experimental Evidence

2015 ◽  
Vol 7 (2) ◽  
pp. 101-120 ◽  
Author(s):  
Heiko Karle ◽  
Georg Kirchsteiger ◽  
Martin Peitz
Keyword(s):  
Experimental Evidence ◽  
Loss Aversion ◽  
Consumer Choice ◽  
Rational Expectations ◽  
Choice Theory ◽  
Choice Model ◽  
Reference Points ◽  
Price Uncertainty ◽  
Theoretical Predictions

We analyze a consumer-choice model with price uncertainty, loss aversion, and expectation-based reference points. The implications of this model are tested in an experiment in which participants have to make a consumption choice between two sandwiches. Participants differ in their reported taste for the two sandwiches and in their degree of loss aversion, which we measure separately. We find that more-loss-averse participants are more likely to opt for the cheaper sandwich, in line with theoretical predictions. The estimates in the model with rational expectations are slightly more significant than those with naïve expectations. (JEL D11, D12, D84, M31)

scholarly journals Modelling the Effects of Parking Charge and Supply Policy Using System Dynamics Method

2017 ◽  
Vol 2017 ◽  
pp. 1-10 ◽  
Author(s):  
Zhenyu Mei ◽  
Qifeng Lou ◽  
Wei Zhang ◽  
Lihui Zhang ◽  
Fei Shi
Keyword(s):  
System Dynamics ◽  
Choice Model ◽  
Evaluation Model ◽  
Travel Cost ◽  
Travel Mode ◽  
Travel Choice ◽  
Supply Policy ◽  
Proposed Model ◽  
Traffic Speed ◽  
Business District

Reasonable parking charge and supply policy are essential for the regular operation of the traffic in city center. This paper develops an evaluation model for parking policies using system dynamics. A quantitative study is conducted to examine the effects of parking charge and supply policy on traffic speed. The model, which is composed of three interrelated subsystems, first summarizes the travel cost of each travel mode and then calibrates the travel choice model through the travel mode subsystem. Finally, the subsystem that evaluates the state of traffic forecasts future car speed based on bureau of public roads (BPR) function and generates new travel cost until the entire model reaches a steady state. The accuracy of the model is verified in Hangzhou Wulin business district. The related error of predicted speed is only 2.2%. The results indicate that the regular pattern of traffic speed and parking charge can be illustrated using the proposed model based on system dynamics, and the model infers that reducing the parking supply in core area will increase its congestion level and, under certain parking supply conditions, there exists an interval of possible pricing at which the service reaches a level that is fairly stable.

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