Incorporating behavioral anomalies in strategic models

Journal Article (Journal Article)

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. © 2005 Springer Science + Business Media, Inc.

Full Text

Duke Authors

Cited Authors

  • Narasimhan, C; He, C; Anderson, ET; Brenner, L; Desai, P; Kuksov, D; Messinger, P; Moorthy, S; Nunes, J; Rottenstreich, Y; Staelin, R; Wu, G; Zhang, ZJ

Published Date

  • December 1, 2005

Published In

Volume / Issue

  • 16 / 3-4

Start / End Page

  • 361 - 373

International Standard Serial Number (ISSN)

  • 0923-0645

Digital Object Identifier (DOI)

  • 10.1007/s11002-005-5898-9

Citation Source

  • Scopus