How Do Consumers Make Choices? A Summary of Evidence from Marketing and Psychology

Zakaria Babutsidze


In this paper I review the evidence from marketing and psychology literature about the purchase behavior of consumers. I concentrate on the characteristics of the choice process, choice of the external information source and nature of the information obtained from these sources. The impact of important systematic differences among consumers and products on choice behavior is also discussed.

UNU-MERIT Working Papers ISSN 1871-9872

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