Interactive Agency Choice in Automobile Purchase Decisions: The role of negotiation in Determining Equilibrium Choice Outcomes

This paper examines vehicle purchase decision models in the framework of an interactive agency choice experiment (IACE), in order to better understand decision-making by more than one decision-maker, which is commonly the case for vehicle purchases. A methodological extension of the IACE method is presented, which involves the rounds at which both agents agree, defined as group "equilibrium," which represents the "best" preference data in terms of what is most likely to reflect market preferences. The specific sample studied here is a pair of agents, one of which is male and the other female, living together, not related to one another. This study was undertaken in part to take into account the possibility that preferences influencing vehicle purchases may be the synthesis of inputs from more than one person, which is not captured by single-agent discrete choice models. This paper seeks to develop an approach that offers progress in capturing the relevant set of group preferences that best represent the outcome of such dynamic interactions. It is suggested that the IACE framework is a rich source of behavioral evidence to assist in greater predictive capabilities.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/856156
• Authors:
  • Hensher, David A
  • Rose, John M
  • Black, Ian
• Publication Date: 2008-5

Language

• English

Media Info

• Media Type: Print
• Features: References; Tables;
• Pagination: pp 269-296
• Serial:
  • Journal of Transport Economics and Policy
  • Volume: 42
  • Issue Number: 2
  • Publisher: University of Bath
  • ISSN: 0022-5258
  • Serial URL: http://www.jtep.com

Subject/Index Terms

• TRT Terms: Automobile ownership; Consumer preferences; Decision theory; Households; Logits; Market research
• Subject Areas: Economics; Highways; Society; I10: Economics and Administration;

Filing Info

• Accession Number: 01100622
• Record Type: Publication
• Source Agency: UC Berkeley Transportation Library
• Files: BTRIS, TRIS
• Created Date: Jun 3 2008 7:31AM