Modeling the Heterogeneous Mental Accounting Impacts of Inter-shopping Duration
Modeling the Heterogeneous Mental Accounting Impacts of Inter-shopping Duration
复制标题
模拟购物持续时间的异质心理账户影响
DOI:
10.1007/978-981-13-3149-7_1
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发表时间:
2018
期刊:
影响因子:
--
通讯作者:
Sato Tadahiko
中科院分区:
文献类型:
--
作者:
Miyatsu Kazuhiro;Sato Tadahiko
Unlike the principles of traditional economics, namely that goods with monetary equivalency can be substituted, mental accounting states that these goods have different criteria values to consumers depending on the purposes of their use and circumstances at purchase. By modeling an inter-shopping duration that accommodates the mental condition changes captured by a newly formulated latent variable termed “mental loading” herein, our research examines how a consumer’s mental factor affects his or her purchase behavior. From the perspective of behavioral economics, it models consumer purchase behaviors that are seemingly irrational from a traditional economics viewpoint. The model is derived from a threshold-based modeling framework that incorporates consumer heterogeneity in a hierarchical Bayesian manner, and the modeling parameters are estimated by using the Markov Chain Monte Carlo method. By using scanner panel data from a retailer, the empirical results show that our model outperforms those without consumers’ mental condition changes at the time of purchase.