Incorporating Behavioral Anomalies in Strategic Models
Behavioral decision researchers have documented a number of anomalies that seem to run counter to established theories of consumer behavior from microeconomics that are often at the core of analytical models in marketing. A natural question therefore is how equilibrium behavior and strategies would...
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| Veröffentlicht in: | Marketing letters 2005-12, Vol.16 (3/4), p.361-373 |
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| container_end_page | 373 |
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| container_issue | 3/4 |
| container_start_page | 361 |
| container_title | Marketing letters |
| container_volume | 16 |
| creator | Narasimhan, Chakravarthi He, Chuan Anderson, Eric T. Brenner, Lyle Desai, Preyas Kuksov, Dmitri Messinger, Paul Moorthy, Sridhar Nunes, Joseph Rottenstreich, Yuval Staelin, Richard Wu, George Zhang, Z. John |
| description | Behavioral decision researchers have documented a number of anomalies that seem to run counter to established theories of consumer behavior from microeconomics that are often at the core of analytical models in marketing. A natural question therefore is how equilibrium behavior and strategies would change if models were to incorporate these anomalies in a consistent way. In this paper we identify several important and generalizable anomalies that modelers may want to incorporate in their models. We briefly discuss each phenomenon, identify a key unresolved issue and outline a research agenda to be pursued. |
| doi_str_mv | 10.1007/s11002-005-5898-9 |
| format | Article |
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| identifier | ISSN: 0923-0645 |
| ispartof | Marketing letters, 2005-12, Vol.16 (3/4), p.361-373 |
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| language | eng |
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| source | Jstor Complete Legacy; Business Source Complete; SpringerLink Journals - AutoHoldings |
| subjects | Behavioral decision theory Bias Business economics Business strategies Business studies Consumer advertising Consumer behavior Consumer behaviour Consumer motivation Consumer prices Consumers Economic behaviour Economic equilibrium Economic models Equilibrium Experiments Fairness Game theory Labor supply Loss aversion Market analysis Marketing Marketing research Microeconomics Modeling Prospect theory Self interest |
| title | Incorporating Behavioral Anomalies in Strategic Models |
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