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| Author: | Cripps, J. Meyer, R. |
| Title: | Heuristics and biases in timing the replacement of durable products |
| Journal: | Journal of Consumer Research
1994 : SEP, VOL. 21:2, p. 304-318 |
| Index terms: | CONSUMER RESEARCH HEURISTIC METHODS CONSUMER DURABLES |
| Language: | eng |
| Abstract: | The process by which individuals make recurrent decisions about when to replace durable goods is examined. Two experiments are reported in which subjects play the role of purchasing agents who must repeatedly decide whether to keep a currently owned manufacturing device or replace it with a superior new one, given uncertainty about the future performance of new and currently owned machines. The replacement problem is broadly discussed in the paper. |
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