Decision strategy and structure in households: A "groups" perspective

Wiktor Adamowicz, Michel Hanemann, Joffre Swait, Reed Johnson, David Layton, Michel Regenwetter, Torsten Reimer, Robert Sorkin

Research output: Contribution to journalArticle

18 Scopus citations

Abstract

From a practical perspective, (arguably) most consumer decisions are not made in isolation of the households in which consumers are inserted, yet we commonly treat them econometrically as if they were. The purpose of this workshop was to take some initial steps in defining needed research in household decision making that structurally accounts for goal sharing, utility interdependence, taste heterogeneity, choice set formation, power structures, group size and composition, and so forth. We also considered conditions under which aggregation of tastes, utility and choices might occur and make sense from both behavioral and modeling perspectives.

Original languageEnglish (US)
Pages (from-to)387-399
Number of pages13
JournalMarketing Letters
Volume16
Issue number3-4
DOIs
StatePublished - Dec 1 2005
Externally publishedYes

Keywords

  • Choice modeling
  • Economic models of decision making
  • Household choice behavior
  • Household decision making

ASJC Scopus subject areas

  • Business and International Management
  • Economics and Econometrics
  • Marketing

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  • Cite this

    Adamowicz, W., Hanemann, M., Swait, J., Johnson, R., Layton, D., Regenwetter, M., Reimer, T., & Sorkin, R. (2005). Decision strategy and structure in households: A "groups" perspective. Marketing Letters, 16(3-4), 387-399. https://doi.org/10.1007/s11002-005-5900-6