No full-text available
To read the full-text of this research,
you can request a copy directly from the authors.
Valuing Environmental Resources: A Constructive Approach
Abstract
One of the main themes that has emerged from behavioral decision research during the past three decades is the view that people's preferences are often constructed in the process of elicitation. This idea is derived from studies demonstrating that normatively equivalent methods of elicitation (e.g., choice and pricing) give rise to systematically different responses. These preference reversals violate the principle of procedure invariance that is fundamental to all theories of rational choice. If different elicitation procedures produce different orderings of options, how can preferences be defined and in what sense do they exist? This book shows not only the historical roots of preference construction but also the blossoming of the concept within psychology, law, marketing, philosophy, environmental policy, and economics. Decision making is now understood to be a highly contingent form of information processing, sensitive to task complexity, time pressure, response mode, framing, reference points, and other contextual factors.
The concept of ecosystem services (ES) has risen to prominence based on its promise to vastly improve environmental decision‐making and to represent nature's many benefits to people. Yet the field has continued to be plagued by fundamental concerns, leading some to believe that the field of ES must mature or be replaced.
In this paper, we quantitatively survey a stratified random sample of more than 1,000 articles addressing ES across three decades of scholarship. Our purpose is to examine the field's attention to common critiques regarding insufficient credible valuations of realistic changes to services; an unjustified preoccupation with monetary valuation; and too little social and policy research (e.g. questions of access to and demand for services).
We found that very little of the ES literature includes valuation of biophysical change (2.4%), despite many biophysical studies of services (24%). An initially small but substantially rising number of papers address crucial policy (14%) and social dimensions, including access, demand and the social consequences of change (5.8%). As well, recent years have seen a significant increase in non‐monetary valuation (from 0% to 2.5%).
Ecosystem service research has, we summarize, evolved in meaningful ways. But some of its goals remain unmet, despite the promise to improve environmental decisions, in part because of a continued pre‐occupation with numerical valuation often without appropriate biophysical grounding. Here we call for a next generation of research: Integrative biophysical‐social research that characterizes ES change, and is coupled with multi‐metric and qualitative valuation, and context‐appropriate decision‐making.
A free Plain Language Summary can be found within the Supporting Information of this article.
Conjoint analysis and the related choice-modelling methods have been used for many years in marketing research to evaluate consumer behaviour and preferences for different kinds of product attributes. Recently, the number of applications in environmental science and management has started to grow. Conjoint analysis is found in many different forms, and the environmental studies evaluated in this review display the same range of methods as in other fields. The key characteristic of all these methods is that trade-offs are evaluated by jointly considering a number of important attributes.
This paper is a review of the literature on environmental applications of conjoint analysis and assesses in which environmental area conjoint analysis has been most successful. The method and the design of the studies are reviewed as well.
A total of 84 studies were found, dealing with environmental issues that were evaluated by conjoint analysis. The studies concern agriculture, ecosystem management, energy, environmental evaluation, forestry, land management, pollution, products, recreation, environmental risk analysis and waste management.
Choice experiments seem to have a comparatively stronger position in environmental studies than elsewhere. Most of the environmental applications are related to natural resource management. This is somewhat surprising, but a number of reports have appeared also on product evaluation, which could be a key application area in the future.
Compared to marketing and transportation, the number of environmental conjoint studies is rather small but increasing, and the method has proven to work effectively in eliciting preferences on environmental issues. In environmental issues, experimenters often use choice experiments, especially concerning ecosystem management and environmental evaluations. When it comes to evaluating preferences concerning agriculture, forestry, energy and products, a more traditional approach of conjoint analysis is favoured.
Two new areas of application are identified in this review--environmental communication and expert elicitation. Conjoint analysis can thus be developed into a useful instrument for environmental risk analysis and communication, both of which are necessary for an efficient approach to risk governance.
People prefer to make changeable decisions rather than unchangeable decisions because they do not realize that they may be more satisfied with the latter. Photography students believed that having the opportunity to change their minds about which prints to keep would not influence their liking of the prints. However, those who had the opportunity to change their minds liked their prints less than those who did not (Study 1). Although the opportunity to change their minds impaired the postdecisional processes that normally promote satisfaction (Study 2a), most participants wanted to have that opportunity (Study 2b). The results demonstrate that errors in affective forecasting can lead people to behave in ways that do not optimize their happiness and well-being.
Examined the long-term effects of participating in a field experiment on the effects of control and predictability-enhancing interventions. 40 retirement home residents who had initially benefited from being exposed to a specific positive predictable or controllable event (visits by college students) were assessed at 3 different intervals after the study was terminated. Health and psychological status data collected 24, 30, and 42 mo after the study indicated no positive long-term effects attributable to the interventions. In fact, groups that had initially benefited from the interventions exhibited precipitous declines once the study was terminated, whereas groups that had not benefited remained stable over time. Theoretical and ethical implications are discussed. (11 ref) (PsycINFO Database Record (c) 2006 APA, all rights reserved).
Americans now live in a time and a place in which freedom and autonomy are valued above all else and in which expanded opportunities for self-determination are regarded as a sign of the psychological well-being of individuals and the moral well-being of the culture. This article argues that freedom, autonomy, and self-determination can become excessive, and that when that happens, freedom can be experienced as a kind of tyranny. The article further argues that unduly influenced by the ideology of economics and rational-choice theory, modern American society has created an excess of freedom, with resulting increases in people's dissatisfaction with their lives and in clinical depression. One significant task for a future psychology of optimal functioning is to deemphasize individual freedom and to determine which cultural constraints are necessary for people to live meaningful and satisfying lives.
At the heart of emotion, mood, and any other emotionally charged event are states experienced as simply feeling good or bad, energized or enervated. These states - called core affect - influence reflexes, perception, cognition, and behavior and are influenced by many causes internal and external, but people have no direct access to these causal connections. Core affect can therefore be experienced as free-floating (mood) or can be attributed to some cause (and thereby begin an emotional episode). These basic processes spawn a broad framework that includes perception of the core-affect-altering properties of stimuli, motives, empathy, emotional meta-experience, and affect versus emotion regulation; it accounts for prototypical emotional episodes, such as fear and anger, as core affect attributed to something plus various nonemotional processes.
Does interference, a primary source of forgetting in explicit memory, also affect implicit memory? Several early and highly influential studies have suggested that implicit memory is immune to interference. In contrast, a number of subsequent investigations have reported evidence for interference. As well, amnesic patients, whose performance relies primarily on implicit memory, often show interference effects. A review of methods, materials, and findings suggests that interference occurs on implicit tests when targets and nontargets are similar and so compete as potential responses to the memory cue. Further, there is some evidence that the degree of interference on implicit tasks is affected by the number of competing items and their strength relative to the target. Interference effects in implicit memory seem to parallel those in explicit memory, and the authors consider the implications of this conclusion for theoretical concepts of memory and the brain.
Paired-comparison wagers were offered to Ss under 2 different methods of encoding decision-parameter information. Method 1 provided S with a set of 4 elements of nonindependent parameter information, Method 2 with a subset comprised of 2 independent elements. Ss' choices showed significantly closer correspondence to an EV-maximization decision rule under Method 2, for both independent groups and repeated-measures designs. With repeated measures, it was found that given sufficient decision time, Method 2 transferred positively to Method 1, with the opposite true (negative transfer) when order of administration was reversed. It was concluded that the basic problem for S in choice situations is the selection of decision rules rather than of decision alternatives. Decision rules may then be asymmetrically transferrable across different encoding methods.
Three studies tested basic assumptions derived from a theoretical model based on the dissociation of automatic and controlled processes involved in prejudice. Study 1 supported the model's assumption that high- and low-prejudice persons are equally knowledgeable of the cultural stereotype. The model suggests that the stereotype is automatically activated in the presence of a member (or some symbolic equivalent) of the stereotyped group and that low-prejudice responses require controlled inhibition of the automatically activated stereotype. Study 2, which examined the effects of automatic stereotype activation on the evaluation of ambiguous stereotype-relevant behaviors performed by a race-unspecified person, suggested that when subjects' ability to consciously monitor stereotype activation is precluded, both high- and low-prejudice subjects produce stereotype-congruent evaluations of ambiguous behaviors. Study 3 examined high- and low-prejudice subjects' responses in a consciously directed thought-listing task. Consistent with the model, only low-prejudice subjects inhibited the automatically activated stereotype-congruent thoughts and replaced them with thoughts reflecting equality and negations of the stereotype. The relation between stereotypes and prejudice and implications for prejudice reduction are discussed.
The fan effect (J. R. Anderson, 1974) has been attributed to interference among competing associations to a concept. Recently, it has been suggested that such effects might be due to multiple mental models (G. A. Radvansky, D. H. Spieler, & R. T. Zacks, 1993) or suppression of concepts (M. C. Anderson & B. A. Spellman, 1995; A. R. A. Conway & R. W. Engle, 1994). It was found that the Adaptive Control of Thought - Rational (ACT-R) theory, which embodies associative interference, is consistent with the results of G. A. Radvansky et al. and that there is no evidence for concept suppression in a new fan experiment. The ACT-R model provides good quantitative fits to the results, as shown in a variety of experiments. The 3 key concepts in these fits are (a) the associative strength between 2 concepts reflects the degree to which one concept predicts the other; (b) foils are rejected by retrieving mismatching facts; and (c) participants can adjust the relative weights they give to various cues in retrieval.
S. E. Taylor and J. D. Brown's (1988) position that mentally healthy people exhibit positive illusions raises a dilemma: How do people function effectively if their perceptions are positively biased? Using Gollwitzer's deliberative-implemental mindset distinction, we assessed whether people in a deliberative mindset show less evidence of positive illusions than people in an implemental mindset. Participants completed a mindset task and assessments of mood, self-perceptions, and perceived (in)vulnerability to risk. Deliberation led to worsened mood, greater perceived risk, and poorer self-perceptions, relative to implementation; control (no mindset) participants typically scored in between. Study 3 demonstrated that the mindset manipulation corresponds to how people actually make decisions or implement them. Results suggest that people use relatively realistic thinking when setting goals and more positive thinking when implementing them.
This article, written for the nondecision analyst, describes what decision analysis is, what it can and cannot do, why one should care to do this, and how one does it. To accomplish these purposes, it is necessary first to describe the decision environment. The article also presents an overview of decision analysis and provides additional sources for its foundations, procedures, history, and applications.
A surprising but common finding is that decision-making performance seems, on average, unaffected by whether decisions are based on probability phrases or on numerical probabilities. This study, however, shows that on a trial-by-trial basis, preferences change as a function of how gamble probabilities are represented. Decision makers rank ordered positively valued gambles whose probabilities were another individual's verbal or numerical chance estimates of specific events. Results showed that decision makers' rankings correlated more closely with payoffs when probabilities were expressed verbally rather than numerically. This effect, in conjunction with the correlational structure of the gambles, resulted in differential earnings under the two probability conditions. Verbal probabilities led to higher average expected profits when gamble outcomes were more positively correlated with expected value than were the gamble probabilities. The opposite was true for numerical estimates.
Studies of risk perception examine the judgements people make when they are asked to characterize and evaluate hazardous activities
and technologies. This research aims to aid risk analysis and policy-making by providing a basis for understanding and anticipating
public responses to hazards and improving the communication of risk information among lay people, technical experts, and decision-makers.
This work assumes that those who promote and regulate health and safety need to understand how people think about and respond
to risk. Without such understanding, well-intended policies may be ineffective.
This important new book develops a new concept of autonomy. The notion of autonomy has emerged as central to contemporary moral and political philosophy, particularly in the area of applied ethics. professor Dworkin examines the nature and value of autonomy and uses the concept to analyse various practical moral issues such as proxy consent in the medical context, paternalism, and entrapment by law enforcement officials.
The Adaptive Decision Maker argues that people use a variety of strategies to make judgments and choices. The authors introduce a model that shows how decision makers balance effort and accuracy considerations and predicts which strategy a person will use in a given situation. A series of experiments testing the model are presented, and the authors analyse how the model can lead to improved decisions and opportunities for further research.
This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on utility and probability.
Decision making is a complex phenomenon which normally is deeply integrated into social life. At the same time the decision making process often gives the decision maker an opportunity for conscious planning and for taking a reflective stance with respect to the action considered. This suggests that decision making allows creative solutions with a potential to change the course of events both on an individual and a collective level. Given these considerations, we argue that in order to more fully understand decision making the perspectives of different disciplines are needed. In this volume we have attempted to draw together contributions that would provide a broad view of decision making. Much work has been carried out in the writing and editing of this volume. First of all we would like to thank the contributors for their efforts in producing interesting and important texts and for their patience in the editorial process. Each chapter was edited by two or three reviewers. These reviewers are listed on a separate page in this book. Our heartfelt thanks go to them for their time and for their incisive and constructive reviews! We are also grateful to the publishing editors at Kluwer Academic Publishers, Christiane Roll and Dorien Francissen, who have been generous with their encouragement and patience throughout the editorial process.
Jan van Schilfgaarde, USDA Agricultural Research Service and National Research Council Committee on Irrigation-Induced Water Quality Problems In 1982, a startling discovery was made. Many waterbirds in Kesterson National Wildlife Refuge were dying or suffering reproductive failure. Located in the San Joaquin Valley (Valley) of California, the Kesterson Reservoir (Kesterson) was used to store agricultural drainage water and it was soon determined that the probable cause of the damage to wildlife was high concen trations of selenium, derived from the water and water organisms in the reservoir. This discovery drastically changed numerous aspects of water management in California, and especially affected irrigated agriculture. In fact, the repercussions spilled over to much of the Western United States. For a century, water development for irrigation has been a religiously pursued means for economic development of the West. The primary objective of the Reclamation Act of 1902 was, purportedly, the development ofirrigation water to support family farms which, in turn, would enhance the regional economy (Worster, 1985).
Some years ago we, the editors of this volume, found out about each other's deeply rooted interest in the concept of time, the usage of time, and the effects of shortage of time on human thought and behavior. Since then we have fostered the idea of bringing together different perspectives in this area. We are now, there fore, very content that our idea has materialized in the present volume. There is both anecdotal and empirical evidence to suggest that time con straints may affect behavior. Managers and other professional decision makers frequently identify time pressure as a major constraint on their behavior (Isen berg, 1984). Chamberlain and Zika (1990) provide empirical support for this view, showing that complaints of insufficient time are the most frequently report ed everyday minor stressors or hassles for all groups of people except the elderly. Similarly, studies in occupational settings have identified time pressure as one of the central components of workload (Derrich, 1988; O'Donnel & Eggemeier, 1986).
The papers in this volume were prepared after a preliminary symposium held at The University of Michigan in honor of Clyde Coombs. Following the symposium, each paper was extensively revised and in many instances completely rewritten to provide a timely and provocative survey of current works in mathematical psychology in the style of Clyde Coombs. All of the authors were students or colleagues who were closely influenced by Coombs and our intention was not to cover all approaches to the field, but rather to illustrate the continuing influence of Coombs's work and approach to the application of mathematics to basic psychological phenomena. If we are successful, it is because of his influence on the contributors. v Acknowledgements The preparation of this volume in memory of Clyde Coombs owes much to the many friends, students, and colleagues of Clyde Coombs who generously provided their support and encouragement. Funding was provided by Dean John D'Arms of the Horace H.
When approached by Warren Samuels, the series editor, about organizing a volume on natural resource economics, I was at a loss as to how one might possibly capture in "several major essays plus several shorter comments thereon" all of the diverse activities that fall within this exciting discipline. I was further asked to have the book take an "affirmative but constructively critical look at its subject. " The volume was to be interpretative, it was to be reasonably comprehensive, and yet it was to attempt to present divergent views on the "development, tensions, present status, and, especially, possible lines of development of each field. " Upon reflection, I decided to have the book focus on natural resource economics as a distinctly applied policy science. Hence the title: Natural Resource Economics: Policy Problems and Contemporary Analysis. While this allowed clarification of a particular sort, it did little to narrow the range of policy issues that ought to be considered candidates for inclu sion. But it did seem, after some thought, that three broad issues persist at center stage in natural resource policy.
Decision Science and Technology is a compilation of chapters written in honor of a remarkable man, Ward Edwards. Among Ward's many contributions are two significant accomplishments, either of which would have been enough for a very distinguished career. First, Ward is the founder of behavioral decision theory. This interdisciplinary discipline addresses the question of how people actually confront decisions, as opposed to the question of how they should make decisions. Second, Ward laid the groundwork for sound normative systems by noticing which tasks humans can do well and which tasks computers should perform. This volume, organized into five parts, reflects those accomplishments and more.
The book is divided into four sections: `Behavioral Decision Theory' examines theoretical descriptions and empirical findings about human decision making. `Decision Analysis' examines topics in decision analysis.`Decision in Society' explores issues in societal decision making. The final section, `Historical Notes', provides some historical perspectives on the development of the decision theory. Within these sections, major, multi-disciplinary scholars in decision theory have written chapters exploring some very bold themes in the field, as an examination of the book's contents will show.
The main reason for the health of the Decision Analysis field is its close links between theory and applications that have characterized it over the years. In this volume, the chapters by Barron and Barrett; Fishburn; Fryback; Keeney; Moreno, Pericchi, and Kadane; Howard; Phillips; Slovic and Gregory; Winkler; and, above all, von Winterfeldt focus on those links. Decision science originally developed out of concern with real decision problems; and applied work, such as is represented in this volume, will help the field to remain strong.
Reports an error in the original article by C. K. Hsee and R. P. Abelson ( Journal of Personality and Social Psychology , 1991[Mar], Vol 60[3], 341–347). The note to Table 2 on Page 345 is incorrect. Instead of greater numbers in the table indicating greater satisfaction, smaller numbers in the table indicate greater satisfaction. (The following abstract of this article originally appeared in record 1991-18303-001 ucqfzrsayvfrfvtqws .) Social scientists have found that satisfaction with an outcome is positively related not just to the position (i.e., actual level) of the outcome, but also to the displacement (i.e., directional difference) between the current level and a reference level. Extending the displacement notion, the present research hypothesized that satisfaction is positively related to the velocity (i.e., rate) at which the outcome changes over time, and tested this hypothesis by using hypothetical outcomes presented in questionnaires (Study 1) and displayed on a computer screen (Study 2). Results from both studies supported the hypothesis. The findings are discussed with regard to their implications for a formal model of the outcome-satisfaction relationship and for a dynamic analysis of human behavior. (PsycINFO Database Record (c) 2016 APA, all rights reserved)
I: Background.- 1. An Introduction.- 2. Conceptualizations of Intrinsic Motivation and Self-Determination.- II: Self-Determination Theory.- 3. Cognitive Evaluation Theory: Perceived Causality and Perceived Competence.- 4. Cognitive Evaluation Theory: Interpersonal Communication and Intrapersonal Regulation.- 5. Toward an Organismic Integration Theory: Motivation and Development.- 6. Causality Orientations Theory: Personality Influences on Motivation.- III: Alternative Approaches.- 7. Operant and Attributional Theories.- 8. Information-Processing Theories.- IV: Applications and Implications.- 9. Education.- 10. Psychotherapy.- 11. Work.- 12. Sports.- References.- Author Index.
This literature review of decision making (how people make choices among desirable alternatives), culled from the disciplines of psychology, economics, and mathematics, covers the theory of riskless choices, the application of the theory of riskless choices to welfare economics, the theory of risky choices, transitivity of choices, and the theory of games and statistical decision functions. The theories surveyed assume rational behavior: individuals have transitive preferences ("… if A is preferred to B, and B is preferred to C, then A is preferred to C."), choosing from among alternatives in order to "… maximize utility or expected utility." 209-item bibliography. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
The idea of libertarian paternalism might seem to be an oxymoron, but it is both possible and desirable for private and public institutions to influence behavior while also respecting freedom of choice. Often people's preferences are unclear and ill-formed, and their choices will inevitably be influenced by default rules, framing effects, and starting points. In these circumstances, a form of paternalism cannot be avoided. Equipped with an understanding of behavioral findings of bounded rationality and bounded self-control, libertarian paternalists should attempt to steer people's choices in welfare-promoting directions without eliminating freedom of choice. It is also possible to show how a libertarian paternalist might select among the possible options and to assess how much choice to offer Examples are given from many areas, including savings behavior, labor law, and consumer protection.
The chapter presents evidence consistent with the observations of Roethke and Vargas Llosa that introspection can be disruptive. The focus is on one type of introspection-thinking—the reasons for one's feelings. The chapter demonstrates that this type of thought can cause people to change their minds about the way they feel and lead to a disconnection between their attitudes and their behavior. It is clear that asking people to think about reasons will often produce attitude change, particularly for affectively based attitudes. The direction of this change, however, has been difficult to predict. The chapter explains people who think about reasons and end up with an attitude that is significantly more negative or positive, on the average, than the attitudes of control subjects. The direction of attitude change is difficult to predict, because it is closely related to the hypothesis about the generation of a biased sample of reasons. In the chapter, there are at least two sorts of harmful attitudes that might be changed by thinking about reasons—those that are undesirable from the individual's perspective and those that are undesirable from a societal perspective.
This chapter highlights the recent research on the selective exposure to information. The term “selective exposure” implies several assumptions concerning the decision-making process. It assumes that the seeking out of decision relevant information does not cease once a decision is made. This notion also implies that this post-decisional information seeking and evaluation is not impartial but, rather, is biased by certain factors activated during the decision-making process. This chapter discusses the fundamental theses of dissonance theory as it relates to selective exposure and gives a short overview of the early research. This chapter describes new research, including the experiments designed to specify those factors most important in influencing informational selectivity: the effects of choice and commitment on selective information seeking, selectivity and refutability of arguments, the amount of available information and its usefulness, the usefulness of decision reversibility, as well as the intensity of dissonance. This chapter reports the results on some additional variables-cost of information, the reliability of dissonant information, and the effects of personality.
Designing effective marketing programs requires forecasting the choice strategy a consumer will use in a given decision environment. Both simplifying and optimizing considerations may affect the strategy used. This study found individuals' perceptions of different strategies as simplifiers and optimizers varied, with number of options being reviewed operating as a moderator.
An analogy is drawn between decision analysis and the somewhat older profession of psychotherapy. Both offer a variety of techniques designed to help people function in a difficult and uncertain environment; both developed rapidly, sustained by a coherent underlying theory and anecdotal evidence of having helped some clients. Over the past half century, psychotherapy has faced a series of crises concerned with its transformation from an art to a clinical science. These include testing the effectiveness of various forms of therapy, validating elements of treatment programs and of the assumptions underlying therapy, improving the clinical skills of individual practitioners, and considering the broader political, social, ideological and ethical issues raised by psychotherapy. It is hoped that by considering the issues that a related profession has identified, the approaches it has developed to study those issues, and the (partial) conclusions it has reached, we can facilitate the development of decision anal...
Myopic loss aversion is the combination of a greater sensitivity to losses than to gains and a tendency to evaluate outcomes
frequently. Two implications of myopic loss aversion are tested experimentally. 1. Investors who display myopic loss aversion
will be more willing to accept risks if they evaluate their investments less often. 2. If all payoffs are increased enough
to eliminate losses, investors will accept more risk. In a task in which investors learn from experience, both predictions
are supported. The investors who got the most frequent feedback (and thus the most information) took the least risk and earned
the least money.
Two consumer choice experiments reveal distortion of product information. When relatively equivocal information about two hypothetical brands is acquired one attribute at a time, the evaluation of a subsequent attribute is distorted to support the brand that emerges as the leader. This distortion in favor of the leading brand occurs in the absence of any prior brand preference and even when no choice is required. in the latter case, brand preference is formed spontaneously and privately. The magnitude of this predecisional information distortion is roughly double the well-known postdecisional distortion due to cognitive dissonance. A second study shows that, even when the product information is diagnostic, substantial distortion remains. Furthermore, when the diagnostic information leads to a reversal of the currently preferred brand, distortion reappears in support of the new leading brand. The implications of predecisional distortion of product information are discussed for the presentation order of brands, the presentation format of product attributes, and the potential bias in preference assessment techniques, such as conjoint measurement, that rely on pairwise choices.
Derived and reported utility functions for members of a high school junior's family were used to predict actual college applications made the next year. The manipulations were whether or not advance deliberations were prompted before the utility measurement and whether or not subjects imagined an imminent commitment deadline. The predictions were poorer when subjects did not deliberate in advance or imagine a commitment was imminent. The reported utilities gave better predictions than the derived ones.
The author presents a conceptual model of brand equity from the perspective of the individual consumer. Customer-based brand equity is defined as the differential effect of brand knowledge on consumer response to the marketing of the brand. A brand is said to have positive (negative) customer-based brand equity when consumers react more (less) favorably to an element of the marketing mix for the brand than they do to the same marketing mix element when it is attributed to a fictitiously named or unnamed version of the product or service. Brand knowledge is conceptualized according to an associative network memory model in terms of two components, brand awareness and brand image (i. e., a set of brand associations). Customer-based brand equity occurs when the consumer is familiar with the brand and holds some favorable, strong, and unique brand associations in memory. Issues in building, measuring, and managing customer-based brand equity are discussed, as well as areas for future research.
Women's time horizons in evaluating product concepts (birth control devices) were varied experimentally. The variations produced changes in the linearity and complexity of the evaluation strategies used, and in the emphasis given to specific factors. Loss-averse and fairly complex evaluation strategies were used by women who made leisurely purchase intent judgments when consumption seemed imminent. Those who made hasty judgments were somewhat more loss-averse and used simpler evaluation strategies. Those who thought consumption was a distant event used simple evaluation strategies that were not loss-averse. The implications of these findings for modeling consumer choice strategies and for predicting choices on the basis of concept-evaluation studies are discussed.
In three experiments, the effects of presenting a subset of competing brands on the recall of the remaining brands was studied. The first two experiments showed that using a subset of the brands as cues may either enhance or inhibit recall of the remaining brands, depending on the knowledge level of the consumer. The third experiment showed that presentation of even two brands can inhibit recall of entire categories of competing brands. An explanation of the results and a discussion of their implications are presented.
Three methods of obtaining attribute importance-conjoint measurement, self (questionnaire) report, and information display board-are compared and found to yield contrasting results. The results of multiattribute models, and determinant attribute and tradeoff analyses would depend on the method of measurement used. The information display board is hypothesized to yield a measure of greater face validity than the other two methods.
"Construct validation was introduced in order to specify types of research required in developing tests for which the conventional views on validation are inappropriate. Personality tests, and some tests of ability, are interpreted in terms of attributes for which there is no adequate criterion. This paper indicates what sorts of evidence can substantiate such an interpretation, and how such evidence is to be interpreted." 60 references. (PsycINFO Database Record (c) 2006 APA, all rights reserved).
During the first half of the twentieth century, utility theory has been subjected to considerable criticism and refinement. The present paper is concerned with certain experimental evidence and theoretical arguments suggesting that utility theory, whether cardinal or ordinal, cannot reflect, even to an approximation, the existing preferences of individuals in many economic situations. The argument is based on the necessity of transitivity for utility, observed circularities of preferences, and a theoretical framework that predicts circularities in the presence of preferences based on numerous criteria.