Improving Attribute-Importance Measurement : a Reference-Point Approach

K. van Ittersum, J.M.E. Pennings, B. Wansink, J.C.M. van Trijp

Research output: Contribution to journalArticleAcademicpeer-review

Abstract

Despite the importance of identifying the hierarchy of product attributes that drive judgment and choice, the many available methods remain limited regarding their convergent validity and test-retest reliability. To increase the validity and reliability of attribute-importance measurement, we focus on the central antecedent of the importance of product attributes in judgment and choice: consumers' valuation curve of an attribute - the idiosyncratic valuation of an attribute at different attribute levels relative to consumers' reference points. We propose two new attribute-importance measures that reflect the determinance and the relevance of an attribute respectively, and show that accounting for the effects of reference points increases the predictive validity of attribute-determinance measures.
Original languageEnglish
Pages (from-to)84-85
JournalAdvances in Consumer Research
Volume31
Issue number1
Publication statusPublished - 2004

Keywords

  • loss aversion
  • reference dependence
  • choice
  • judgment
  • decision
  • model

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