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.
|Journal||Advances in Consumer Research|
|Publication status||Published - 2004|
- loss aversion
- reference dependence
van Ittersum, K., Pennings, J. M. E., Wansink, B., & van Trijp, J. C. M. (2004). Improving Attribute-Importance Measurement : a Reference-Point Approach. Advances in Consumer Research, 31(1), 84-85. http://www.acrwebsite.org/volumes/v31/acr_vol31_58.pdf