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Is Expected Utility a Descriptive Model of Consumer Decision Making Under Uncertainty?
Book chapter

Is Expected Utility a Descriptive Model of Consumer Decision Making Under Uncertainty?

Dan Sarel
Proceedings of the 1979 Academy of Marketing Science (AMS) Annual Conference, pp.33-37
Developments in Marketing Science: Proceedings of the Academy of Marketing Science, Springer International Publishing
DOI: https://doi.org/10.1007/978-3-319-16934-7_8

Abstract

Behavioral Intention Expected Utility Expected Utility Model Expected Utility Theory Expectee Value
Recently, marketing researchers have recognized the importance of incorporating consumer perceived attribute uncertainty in consumer multiattribute evaluation models. However, marketing researchers have overlooked an important theory -- the expected model -- that has received extensive discussion in related disciplines. The study reported in this paper examines the applicability of the expected utility theory as a descriptive model in a marketing context.

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