Otto-von-Guericke-Universität Magdeburg

 
 
 
 
 
 
 
 

Choice Anomalies

Choice Anomalies

Studies in the research field Choice Anomalies aim at generating knowledge about consumers’ preferences and the mechanisms that trigger certain behaviors. It is well known that consumers’ preferences are not as stable as initially proposed by economic theories. Consumers do not recall a fixed utility for options under consideration from their memory when they have to choose among competing products. Often, they rather construct their preferences during product or service choice, making any judgment and preference dependent on the context of a specific decision environment. As the influences of environmental and contextual factors on consumers’ preferences are typically subtle in nature, opportunities for consumer manipulation arise. Therefore, developing a nuanced understanding of these effects is important for businesses and policy makers alike.

Our research particularly focuses on context effects such as the attraction effect or the compromise effect, which describe the influence of the choice set composition on consumer choice. The two main themes are:

(1)   Understanding the process that drives abnormal decision-making resulting in context effects, and

(2)   Evaluating the practical relevance and reproducibility of findings obtained in the context effect domain.

Sample research topics include:

Selected Publications

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Letzte Änderung: 22.05.2018 - Contact Person: Webmaster