haku: @indexterm consumer goods / yhteensä: 236
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| Tekijä: | Klapper, D. Ebling, C. Temme, J. |
| Otsikko: | Another look at loss aversion in brand choice data: Can we characterize the loss averse consumer? |
| Lehti: | International Journal of Research in Marketing
2005 : SEP, VOL. 22:3, p. 239-254 |
| Asiasana: | marketing brands pricing consumer goods consumers models |
| Vapaa asiasana: | loss aversion heterogeneity |
| Kieli: | eng |
| Tiivistelmä: | This paper focuses on loss aversion (hereafter as: ls-avr.) and adequately accounting for consumer heterogeneity (here as: het-y). Estimated is a reference dependent model with a mixed logit specification allowing for a continuous distribution of response het-y. in the population. Gibbs Sampling is used to obtain individual estimates. The estimation results from two different consumer goods categories show that the degree of ls-avr. is small after properly accounting for het-y. Furthermore, a posterior analysis is used to investigate whether the individual response to gains and losses can be attributed to consumer specific characteristics. Interesting insights into which consumers respond more or less to price deviations from their reference point are revealed. Hence, this study's results are important for the development of effective pricing strategies and the timing of price promotions. |
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