Consumer Risk‐reduction Behavior and New Product Purchases
作者： Koichi Yonezawa , Timothy J. Richards
DOI: 10.1002/MDE.2841
关键词: Quality (business) 、 Economics 、 Microeconomics 、 New product development 、 Product (category theory) 、 Product proliferation 、 Reduction (complexity)
摘要: Consumers purchase lower quantities of new products compared with those they have purchased in the past. We explain this observation as a result risk‐averting behavior by utility‐maximizing consumers. If product involves higher degree risk that quality expectations will not be met an incumbent product, we show utility more concave for product. test prediction using multiple‐discrete/continuous extreme value (MDCEV) model demand. is indeed relative to previously products. Copyright © 2017 John Wiley & Sons, Ltd.
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