Should consumers use the halo to form product evaluations?

• 成果类型: Article
• 署名作者: Boatwright, Peter; Kalra, Ajay; Zhang, Wei
• 署名单位: Carnegie Mellon University
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.1070.0742
• 发表日期: 2008
• 页码: 217-223
• 关键词: halo effect; decision-theoretic consumer choice; James-Stein estimator; utility preference

摘要

In purchase situations where attribute information is either missing or difficult to judge, a well-known heuristic that consumers use to form evaluations is the halo effect. The psychology literature has widely considered the halo a reflection of consumers' inability to discriminate between different attributes and have therefore labeled it the halo error or the logical error. The objective of this paper is to offer a rationale for the halo effect. We use a decision-theory framework to show that the halo is consistent with the goal of minimizing estimation risk. Contrary to conventional wisdom, we demonstrate that a decision using the halo has lower estimation risk compared to not using the halo heuristic. Therefore, using the halo results in utility maximization and is indicative of rational behavior.