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http://ssrn.com/abstract=991950
 
 

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Incorporating Behavioral Anomalies in Strategic Models


Chakravarthi Narasimhan


Washington University

Eric Anderson


Northwestern University - Department of Marketing

Lyle Brenner


University of Florida - Department of Marketing

Preyas S. Desai


Duke University - Fuqua School of Business

Dmitri Kuksov


Washington University in Saint Louis - John M. Olin Business School

Paul R. Messinger


University of Alberta - Department of Marketing, Business Economics & Law

Sridhar Moorthy


University of Toronto - Rotman School of Management

Joseph Nunes


University of Southern California - Marshall School of Business

Richard Staelin


Duke University - Fuqua School of Business

Yuval Rottenstreich


University of Chicago - Booth School of Business

George Wu


University of Chicago - Booth School of Business

2004

Marketing Letters, Vol. 16, Nos. 3/4, pp. 361-373, 2005
University of Alberta School of Business Research Paper No. 2013-789

Abstract:     
Behavioral decision researchers have documented a number of anomalies that seem to run counter to established theories of consumer behavior from microeconomics that are often at the core of analytical models in marketing. A natural question therefore is how equilibrium behavior and strategies would change if models were to incorporate these anomalies in a consistent way. In this paper we identify several important and generalizable anomalies that modelers may want to incorporate in their models.We briefly discuss each phenomenon, identify a key unresolved issue and outline a research agenda to be pursued.

Number of Pages in PDF File: 13

Keywords: marketing strategy, game theory, reference dependence, fairness, confirmatory bias

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Date posted: June 11, 2007 ; Last revised: July 25, 2013

Suggested Citation

Narasimhan, Chakravarthi and Anderson, Eric and Brenner, Lyle and Desai, Preyas S. and Kuksov, Dmitri and Messinger, Paul R. and Moorthy, Sridhar and Nunes, Joseph and Staelin, Richard and Rottenstreich, Yuval and Wu, George, Incorporating Behavioral Anomalies in Strategic Models (2004). Marketing Letters, Vol. 16, Nos. 3/4, pp. 361-373, 2005; University of Alberta School of Business Research Paper No. 2013-789. Available at SSRN: http://ssrn.com/abstract=991950

Contact Information

Chakravarthi Narasimhan
Washington University ( email )
One Brookings Drive, Campus Box 1133
Olin School of Business
St. Louis, MO 63130-4899
United States
314-935-6313 (Phone)
314-935-6359 (Fax)
Eric Anderson (Contact Author)
Northwestern University - Department of Marketing ( email )
Kellogg School of Management
2001 Sheridan Rd.
Evanston, IL 60208
United States
Lyle Brenner
University of Florida - Department of Marketing ( email )
Gainesville, FL 32611
United States
Preyas S. Desai
Duke University - Fuqua School of Business ( email )
Box 90120
Durham, NC 27708-0120
United States
Dmitri Kuksov
Washington University in Saint Louis - John M. Olin Business School ( email )
One Brookings Drive
Campus Box 1133
St. Louis, MO 63130-4899
United States
Paul R. Messinger
University of Alberta - Department of Marketing, Business Economics & Law ( email )
Edmonton, Alberta T6G 2R6
Canada

Sridhar Moorthy
University of Toronto - Rotman School of Management ( email )
105 St. George Street
Toronto, Ontario M5S 3E6
Canada
HOME PAGE: http://www.rotman.utoronto.ca/~moorthy
Joseph Nunes
University of Southern California - Marshall School of Business ( email )
701 Exposition Blvd
Los Angeles, CA 90089
United States
Richard Staelin
Duke University - Fuqua School of Business ( email )
Box 90120
Durham, NC 27708-0120
United States
919-660-7824 (Phone)
919-660-7990 (Fax)
HOME PAGE: http://www.fuqua.duke.edu/faculty/alpha/rstaelin.h
Yuval Rottenstreich
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
George Wu
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
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