TY - JOUR
T1 - Deriving attribute utilities from mental representations of complex decisions
AU - Dellaert, B.G.C.
AU - Arentze, T.A.
AU - Horeni, O.
AU - Timmermans, H.J.P.
PY - 2017/3/1
Y1 - 2017/3/1
N2 - We propose a new approach to determine the utilities that consumers attach to different attributes in complex decisions. The approach builds on a recently developed model that posits that cognitive links between alternatives and attributes and between attributes and benefits are more likely to be activated in a consumer's mental representation of a decision if the expected gains of taking into account these links in terms of achieving better choice outcomes are higher. In this paper we derive how this model can be used to determine the utility of attributes directly from mental representations and extend the model to complex decisions with multiple decision dimensions. We illustrate the approach using data on 594 individuals’ means–end chain responses for a hypothetical combined shopping location, shopping timing, and transportation decision problem.
AB - We propose a new approach to determine the utilities that consumers attach to different attributes in complex decisions. The approach builds on a recently developed model that posits that cognitive links between alternatives and attributes and between attributes and benefits are more likely to be activated in a consumer's mental representation of a decision if the expected gains of taking into account these links in terms of achieving better choice outcomes are higher. In this paper we derive how this model can be used to determine the utility of attributes directly from mental representations and extend the model to complex decisions with multiple decision dimensions. We illustrate the approach using data on 594 individuals’ means–end chain responses for a hypothetical combined shopping location, shopping timing, and transportation decision problem.
KW - Attribute importance
KW - Consumer decision making
KW - Means-end chains
KW - Mental representations
KW - Utility model
UR - http://www.scopus.com/inward/record.url?scp=85004075734&partnerID=8YFLogxK
U2 - 10.1016/j.jocm.2016.12.001
DO - 10.1016/j.jocm.2016.12.001
M3 - Article
AN - SCOPUS:85004075734
VL - 22
SP - 24
EP - 38
JO - Journal of Choice Modelling
JF - Journal of Choice Modelling
SN - 1755-5345
ER -