English, Article, Journal or magazine article edition: Age-induced decision shrinkage, another avenue to repeat purchase: the example of new automobiles LAURENT, Gilles; LAMBERT-PANDRAUD, Raphaelle

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Bookmark: http://trove.nla.gov.au/version/23148
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Age-induced decision shrinkage, another avenue to repeat purchase: the example of new automobiles
Author
  • LAURENT, Gilles
  • LAMBERT-PANDRAUD, Raphaelle
Physical Description
  • preprint
Notes
  • The literature from psychology and gerontology suggests that older persons have reduced cognitive abilities, and an increased risk aversion. On this basis, we predict that their decision process will be shrunk, in three manners: a smaller consideration set, a focus on the previous brand (leading to repeat purchases), a privileged status given to other ancient brands. In a survey approach, we test these predictions on a large sample of recent buyers of new automobiles. The results confirm the prediction: A shrinkage of the decision process appears after sixty, and is markedly stronger after seventy-five, two limits suggested by the literature.
  • age; consumer behavior; purchase process; brand loyalty; cautiousness
  • RePEc:ebg:heccah:0748
Language
  • English
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