Salience and Consumer Choice

• 成果类型: Article
• 署名作者: Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei
• 署名单位: University of London; Bocconi University; Harvard University
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/673885
• 发表日期: 2013
• 页码: 803-843
• 关键词: model; DECISION; context

摘要

We present a theory of context-dependent choice in which a consumer's attention is drawn to salient attributes of goods, such as quality or price. An attribute is salient for a good when it stands out among the good's attributes relative to that attribute's average level in the choice set (or, more broadly, the choice context). Consumers attach disproportionately high weight to salient attributes, and their choices are tilted toward goods with higher quality/price ratios. The model accounts for a variety of disparate evidence, including decoy effects and context-dependent willingness to pay. It also suggests a novel theory of misleading sales.