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Abstract
The extant choice literature has proposed different non-compensatory rules as a more realistic description of consumers’ choice than a standard compensatory model. Some research has further suggested a two-stage sequential decision process of non-compensatory consideration and then compensatory choice, where the determinants of each stage may differ. Some aspects of non-compensatory choice modeling are under-studied. In this article, we hope to advance the understanding of non-compensatory choice models with the following aims: (a) providing an overview of existing representations for non-compensatory choice decisions, (b) discussing how such choice decisions can manifest from the economic search theoretical perspective, (c) exploring the empirical identification of non-compensatory decisions using different data, and (d) presenting applications of non-compensatory choice models in novel domains.
Details
; Allenby, Greg M 3 ; Taylor, Bentley 4 ; Curry, David J 5 ; Dotson, Marc 6 ; Henderson, Ty 4 ; Honka, Elisabeth 7 ; Kohli, Rajeev 8 ; Jedidi, Kamel 8 ; Seiler, Stephan 9 ; Xin (Shane) Wang 10 1 Ross School of Business, University of Michigan, Ann Arbor, USA
2 Goethe University, Frankfurt am Main, Germany
3 Fisher College of Business, The Ohio State University, Columbus, USA
4 McCombs School of Business, The University of Texas at Austin, Austin, USA
5 Lindner College of Business, University of Cincinnati, Cincinnati, USA
6 Marriott School of Management, Brigham Young University, Provo, USA
7 Anderson School of Management, University of California Los Angeles, Los Angeles, USA
8 Graduate School of Business, Columbia University, New York, USA
9 Graduate School of Business, Stanford University, Stanford, USA
10 Ivey Business School, Western University, London, Canada