Dynamic Influences on Individual Choice Behavior

Marketing Letters, 8:3 (1997): 349-360

12 Pages Posted: 21 Jan 2015

See all articles by Robert J. Meyer

Robert J. Meyer

University of Pennsylvania - Marketing Department

Tulin Erdem

University of California, Berkeley - Marketing Group

Fred M. Feinberg

University of Michigan at Ann Arbor - Marketing; University of Michigan, Stephen M. Ross School of Business

Itzhak Gilboa

Tel Aviv University - Eitan Berglas School of Economics; HEC Paris - Economics & Decision Sciences

J. Wesley Hutchinson

University of Pennsylvania - Marketing Department

Aradhna Krishna

University of Michigan, Stephen M. Ross School of Business

Steven A. Lippman

University of California, Los Angeles (UCLA) - Policy Area

Carl F. Mela

Duke University - Fuqua School of Business

Amit Pazgal

Rice University

Drazen Prelec

Massachusetts Institute of Technology (MIT) - Sloan School of Management; MIT Department of Economics; MIT Brain and Cognitive Sciences

Joel Steckel

New York University (NYU) - Department of Marketing

Date Written: January 19, 2015

Abstract

Research examining the process of individual decision making over time is briefly reviewed. We focus on two major areas of work in choice dynamics: research that has examined how current choices are influenced by the history of previous choices, and newer work examining how choices may be made to exploit expectations about options available in the future. A central theme of the survey is that if a general understanding of choice dynamics is to emerge, it will come through the development of boundedly-rational models of dynamic problem solving that lie on the interface between economics and psychology.

Suggested Citation

Meyer, Robert J. and Erdem, Tulin and Feinberg, Fred M. and Gilboa, Itzhak and Hutchinson, John Wesley and Krishna, Aradhna and Lippman, Steven A. and Mela, Carl F. and Pazgal, Amit I. and Prelec, Drazen and Steckel, Joel, Dynamic Influences on Individual Choice Behavior (January 19, 2015). Marketing Letters, 8:3 (1997): 349-360. Available at SSRN: https://ssrn.com/abstract=2552248

Robert J. Meyer

University of Pennsylvania - Marketing Department ( email )

700 Jon M. Huntsman Hall
3730 Walnut Street
Philadelphia, PA 19104-6340
United States

Tulin Erdem

University of California, Berkeley - Marketing Group ( email )

Haas School of Business
Berkeley, CA 94720
United States
510-642-4632 (Phone)
510-643-1420 (Fax)

Fred M. Feinberg

University of Michigan at Ann Arbor - Marketing ( email )

Ann Arbor, MI 48109
United States

University of Michigan, Stephen M. Ross School of Business ( email )

701 Tappan Street
Ann Arbor, MI MI 48109
United States

Itzhak Gilboa

Tel Aviv University - Eitan Berglas School of Economics ( email )

P.O. Box 39040
Ramat Aviv, Tel Aviv, 69978
Israel
972-3-640-6423 (Phone)
972-3-640-9908 (Fax)

HEC Paris - Economics & Decision Sciences

Paris
France

John Wesley Hutchinson

University of Pennsylvania - Marketing Department ( email )

700 Jon M. Huntsman Hall
3730 Walnut Street
Philadelphia, PA 19104-6340
United States

Aradhna Krishna (Contact Author)

University of Michigan, Stephen M. Ross School of Business ( email )

701 Tappan Street
Ann Arbor, MI MI 48109
United States

Steven A. Lippman

University of California, Los Angeles (UCLA) - Policy Area ( email )

110 Westwood Plaza
Los Angeles, CA 90095
United States

HOME PAGE: http://www.anderson.ucla.edu/acad_unit/policy/

Carl F. Mela

Duke University - Fuqua School of Business ( email )

Box 90120
Durham, NC 27708-0120
United States
919-660-7767 (Phone)

Amit I. Pazgal

Rice University ( email )

6100 South Main Street
Houston, TX 77005-1892
United States

Drazen Prelec

Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )

E40-161
MIT
Cambridge, MA 02142
United States
617-253-2833 (Phone)

MIT Department of Economics ( email )

Department of Economics
E52-371
Cambridge, MA 02142
United States

MIT Brain and Cognitive Sciences ( email )

43 Vassar Street
Cambridge, MA 02139
United States

Joel Steckel

New York University (NYU) - Department of Marketing ( email )

Tisch Hall
40 W 4 St.
New York, NY 10012
United States
2129980521 (Phone)

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