Taste uncertainty and status quo effects in consumer choice

DOI10.1007/S11166-009-9076-YMaRDI QIDQ1037585zbMATH OpenOpenAlexFDO

Authors Graham Loomes, Shepley Orr, Robert Sugden

Publication date 16 November 2009

Published in Journal of Risk and Uncertainty (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11166-009-9076-y

zbMATH Keywords

reference dependenceloss aversion, taste uncertaintystatus quo effect

Mathematics Subject Classification ID

Individual preferences (91B08) Utility theory (91B16) Consumer behavior, demand theory (91B42)

Recommendations

• A canonical model of choice with initial endowments
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Cites work

• scientific article; zbMATH DE number 3087284 (Why is no real title available?)
• A model of reference-dependent preferences
• A review of WTA/WTP studies
• Advances in prospect theory: cumulative representation of uncertainty
• An axiomatic foundation for regret theory
• Does Market Experience Eliminate Market Anomalies?
• Intransitivity of indifference, strong monotonicity, and the endowment effect
• Prospect Theory: An Analysis of Decision under Risk
• Reference-dependent subjective expected utility.
• Some implications of a more general form of regret theory
• Third-generation prospect theory

Cited in

(4)

• Brand positioning and consumer taste information
• The willingness-to-accept/willingness-to-pay disparity in repeated markets: loss aversion or ``bad-deal aversion?
• Asymmetric dominance, deferral, and status quo bias in a behavioral model of choice
• Understanding the reference effect

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