English, Article, Journal or magazine article edition: Learning How to Consume and Returns to Product Promotion Zakaria Babutsidze

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Bookmark: http://trove.nla.gov.au/version/122169
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Learning How to Consume and Returns to Product Promotion
Author
  • Zakaria Babutsidze
Physical Description
  • preprint
Notes
  • This paper presents the computational model of consumer behaviour. We consider two sources of product specific consumer skill acquisition, termed here as learning how to consume: learning by consuming and consumer socialization. Consumers utilize these two sources in order to derive higher valuations for products they are consuming. In this framework we discuss the behavior of returns to product promotion relative to the changes in product characteristics, such as quality and user-friendliness, as well as in case of varying intensity of consumer socialization. The main finding is that in case of duopoly the dependence of returns to advertising on product quality is not monotonic as it has been claimed by earlier studies. Additional important finding indicating the importance of the models with interacting agents is that returns to advertising exhibit qualitatively different behavior in case of zero intensity of consumer socialization.
  • Consumer skills, learning by consuming, consumer socialization, product promotion, returns to advertising Length 23 pages
  • RePEc:esi:evopap:2009-05
Language
  • English
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