The Framing of Buying Decisions

Abstract

Research in behavioral decision theory suggests that people use reference points as the basis for judging/comparing the value of decision alternatives, but there has been little research addressing how decision reference points are formed. This paper posits and empirically demonstrates a conceptual framework of the reference point formation process for buying decisions. The basic concepts in the framework are supported, and the resulting reference points are shown to influence choice in a manner consistent with prospect theory.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 311 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.