The Experts below are selected from a list of 201918 Experts worldwide ranked by ideXlab platform
Debabrata Talukdar - One of the best experts on this subject based on the ideXlab platform.
-
Consumer Information search revisited theory and empirical analysis
Journal of Consumer Research, 1997Co-Authors: Sridhar Moorthy, Brian T Ratchford, Debabrata TalukdarAbstract:A comprehensive theoretical framework for understanding Consumers' Information search behavior is presented. Unlike previous research, our model identifies not only what factors affect Consumers' search behavior but also how these factors interact with each other. In particular, the model emphasizes the effect of prior brand perceptions on the search process. We argue that when Consumers have brand-specific prior distributions of utility, the existence of relative uncertainty among brands is necessary for search to be useful. Thus, we explain why product class involvement or low search costs may not be sufficient to induce large amounts of search activity and why there may be an inverted-U-shaped relationship between search activity and experience. We test our theory on Consumers' search behavior for new automobiles, using data collected contemporaneously with Consumers' actual decision process. Our data support our theory.
-
Consumer Information search revisited theory and empirical analysis
Journal of Consumer Research, 1997Co-Authors: Sridhar Moorthy, Brian T Ratchford, Debabrata TalukdarAbstract:A comprehensive theoretical framework for understanding Consumers' Information search behavior is presented. Unlike previous research, our model identifies not only what factors affect Consumers' search behavior but also how these factors interact with each other. In particular, the model emphasizes the effect of prior brand perceptions on the search process. We argue that when Consumers have brand-specific prior distributions of utility, the existence of relative uncertainty among brands is necessary for search to be useful. Thus, we explain why product class involvement or low search costs may not be sufficient to induce large amounts of search activity and why there may be an inverted-U-shaped relationship between search activity and experience. We test our theory on Consumers' search behavior for new automobiles, using data collected contempraneously with Consumers' actual decision process. Our data support our theory. Copyright 1997 by the University of Chicago.
Jonathan T Kolstad - One of the best experts on this subject based on the ideXlab platform.
-
health insurance for humans Information frictions plan choice and Consumer welfare
The American Economic Review, 2015Co-Authors: Benjamin R Handel, Jonathan T KolstadAbstract:Traditional models of insurance choice are predicated on fully informed and rational Consumers protecting themselves from exposure to financial risk. In practice, choosing an insurance plan is a complicated decision often made without full Information. In this paper we combine new administrative data on health plan choices and claims with unique survey data on Consumer Information to identify risk preferences, Information frictions, and hassle costs. Our additional friction measures are important predictors of choices and meaningfully impact risk preference estimates. We study the implications of counterfactual insurance allocations to illustrate the importance of distinguishing between these micro-foundations for welfare analysis.
-
health insurance for humans Information frictions plan choice and Consumer welfare
The American Economic Review, 2015Co-Authors: Benjamin R Handel, Jonathan T KolstadAbstract:Traditional models of insurance choice are predicated on fully informed and rational Consumers protecting themselves from exposure to financial risk. In practice, choosing an insurance plan is a complicated decision often made without full Information. In this paper we combine new administrative data on health plan choices and claims with unique survey data on Consumer Information to identify risk preferences, Information frictions, and hassle costs. Our additional friction measures are important predictors of choices and meaningfully impact risk preference estimates. We study the implications of counterfactual insurance allocations to illustrate the importance of distinguishing between these micro-foundations for welfare analysis. (JEL D81, D8 3, G22, I13)
Sridhar Moorthy - One of the best experts on this subject based on the ideXlab platform.
-
Consumer Information search revisited theory and empirical analysis
Journal of Consumer Research, 1997Co-Authors: Sridhar Moorthy, Brian T Ratchford, Debabrata TalukdarAbstract:A comprehensive theoretical framework for understanding Consumers' Information search behavior is presented. Unlike previous research, our model identifies not only what factors affect Consumers' search behavior but also how these factors interact with each other. In particular, the model emphasizes the effect of prior brand perceptions on the search process. We argue that when Consumers have brand-specific prior distributions of utility, the existence of relative uncertainty among brands is necessary for search to be useful. Thus, we explain why product class involvement or low search costs may not be sufficient to induce large amounts of search activity and why there may be an inverted-U-shaped relationship between search activity and experience. We test our theory on Consumers' search behavior for new automobiles, using data collected contemporaneously with Consumers' actual decision process. Our data support our theory.
-
Consumer Information search revisited theory and empirical analysis
Journal of Consumer Research, 1997Co-Authors: Sridhar Moorthy, Brian T Ratchford, Debabrata TalukdarAbstract:A comprehensive theoretical framework for understanding Consumers' Information search behavior is presented. Unlike previous research, our model identifies not only what factors affect Consumers' search behavior but also how these factors interact with each other. In particular, the model emphasizes the effect of prior brand perceptions on the search process. We argue that when Consumers have brand-specific prior distributions of utility, the existence of relative uncertainty among brands is necessary for search to be useful. Thus, we explain why product class involvement or low search costs may not be sufficient to induce large amounts of search activity and why there may be an inverted-U-shaped relationship between search activity and experience. We test our theory on Consumers' search behavior for new automobiles, using data collected contempraneously with Consumers' actual decision process. Our data support our theory. Copyright 1997 by the University of Chicago.
Lata Gangadharan - One of the best experts on this subject based on the ideXlab platform.
-
Environmental Labeling and Incomplete Consumer Information in Laboratory Markets
Journal of Environmental Economics and Management, 2002Co-Authors: Timothy N. Cason, Lata GangadharanAbstract:Survey evidence suggests that Consumers care about the environment and are willing to pay a higher price for a product that generates less environmental harm. We induce buyer preferences over quality in a laboratory posted offer market to study sellers' incentives to offer products of differing quality. Buyers are unaware of the product quality before purchase, as is the case for experience goods. We first document the market failure that arises from incomplete Information when no signaling or reputations are possible. We then study various treatments that could remedy this failure. Seller reputations and unverified "cheap talk" signals sometimes increase the number of higher-valued 'clean' goods. The only reliable way to improve product quality in the experiment, however, is to use an external body that charges a fee to verify product quality claims.
-
environmental labeling and incomplete Consumer Information in laboratory markets
Journal of Environmental Economics and Management, 2002Co-Authors: Timothy N. Cason, Lata GangadharanAbstract:Abstract Survey evidence suggests that Consumers care about the environment and are willing to pay a higher price for a product that generates less environmental harm. We induce buyer preferences over quality in a laboratory posted offer market to study sellers' incentives to offer products of differing quality. Buyers are unaware of the product quality before purchase, as is often the case for goods with differing environmental quality. We first document the market failure that arises from incomplete Information when no signaling or reputations are possible. We then study various treatments that could remedy this failure. Seller reputations and unverified “cheap talk” signals sometimes increase the number of higher-valued “green” goods. The only reliable way to improve product quality in the experiment, however, is to use a third party that charges a fee to certify product quality claims.
Brian T Ratchford - One of the best experts on this subject based on the ideXlab platform.
-
a model of search behavior with an application to grocery shopping
Journal of Retailing, 1997Co-Authors: Sanjay Putrevu, Brian T RatchfordAbstract:Abstract This study proposes and empirically tests a dynamic model of Consumer Information search behavior for groceries, which incorporates human capital. By building a formal model that demonstrates interactions between the determinants of search, we are able to distinguish between different types of human capital, and to provide insight into the measurement of each type. We test this model employing survey data on Consumer perceptions of the various variables in our model in the domain of grocery shopping. In general, we find that self-reported search for Information about buying groceries is related to perceptions of the benefits and costs of search in a manner predicted by our theory.
-
Consumer Information search revisited theory and empirical analysis
Journal of Consumer Research, 1997Co-Authors: Sridhar Moorthy, Brian T Ratchford, Debabrata TalukdarAbstract:A comprehensive theoretical framework for understanding Consumers' Information search behavior is presented. Unlike previous research, our model identifies not only what factors affect Consumers' search behavior but also how these factors interact with each other. In particular, the model emphasizes the effect of prior brand perceptions on the search process. We argue that when Consumers have brand-specific prior distributions of utility, the existence of relative uncertainty among brands is necessary for search to be useful. Thus, we explain why product class involvement or low search costs may not be sufficient to induce large amounts of search activity and why there may be an inverted-U-shaped relationship between search activity and experience. We test our theory on Consumers' search behavior for new automobiles, using data collected contemporaneously with Consumers' actual decision process. Our data support our theory.
-
Consumer Information search revisited theory and empirical analysis
Journal of Consumer Research, 1997Co-Authors: Sridhar Moorthy, Brian T Ratchford, Debabrata TalukdarAbstract:A comprehensive theoretical framework for understanding Consumers' Information search behavior is presented. Unlike previous research, our model identifies not only what factors affect Consumers' search behavior but also how these factors interact with each other. In particular, the model emphasizes the effect of prior brand perceptions on the search process. We argue that when Consumers have brand-specific prior distributions of utility, the existence of relative uncertainty among brands is necessary for search to be useful. Thus, we explain why product class involvement or low search costs may not be sufficient to induce large amounts of search activity and why there may be an inverted-U-shaped relationship between search activity and experience. We test our theory on Consumers' search behavior for new automobiles, using data collected contempraneously with Consumers' actual decision process. Our data support our theory. Copyright 1997 by the University of Chicago.
