Consumers’ Choice Formulation Under Risk: a Competence-Based Perspective

Dong-Jun Min, University of Georgia, USA
Marcus Cunha Jr., University of Georgia, USA
Researchers have long believed that consumers manage risk associated with a purchase by acquiring information that helps them make more precise estimates of the product value. In five experiments, we show conditions under which consumers based their choice on either a ranking-based standard (vertical attribute) or personal preference (horizontal attribute).
[ to cite ]:
Dong-Jun Min and Marcus Cunha Jr. (2013) ,"Consumers’ Choice Formulation Under Risk: a Competence-Based Perspective", in NA - Advances in Consumer Research Volume 41, eds. Simona Botti and Aparna Labroo, Duluth, MN : Association for Consumer Research.