Consideration-set heuristics
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Hauser_Consideration-set.pdf
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942.16 KB
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Adobe PDF
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Author(s)
Hauser, John R.
Hauser, John R
Date Issued
March 2014
Journal
Journal of Business Research
Publisher
Elsevier
Citation
Hauser, John R. “Consideration-Set Heuristics.” Journal of Business Research 67, 8 (August 2014): 1688–1699 © 2014 Elsevier Inc
Version
Author's final manuscript
Abstract
Consumers often choose products by first forming a consideration set and then choosing from among considered products. When there are many products to screen (or many features to evaluate), it is rational for consumers to use consider-then-choose decision processes and to do so with heuristic decision rules. Managerial decisions (product development, marketing communications, etc.) depend upon the ability to identify and react to consumers' heuristic consideration-set rules. We provide managerial examples and review the state-of-the-art in the theory and measurement of consumers' heuristic consideration-set rules. Advances in greedoid methods, Bayesian inference, machine-learning, incentive alignment, measurement formats, and unstructured direct elicitation make it feasible and cost-effective to understand, quantify, and simulate “what-if” scenarios for a variety of heuristics. These methods now apply to a broad set of managerial problems including applications in complex product categories with large numbers of product features and feature-levels.
MIT Department
Sloan School of Management
Terms of Use
Creative Commons Attribution-NonCommercial-NoDerivs License
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1016/j.jbusres.2014.02.015
