Decisions - Decision models

Question

What are judgment models?

Answer 1

Procedures and rules for taking into account various qualities of an alternative, thereby they guide our choice decisions.

Answer 2

In this model the consumer arrives at a choice by considering all of the attributes of a product and by mentally trading off the alternative's perceived weakness on one or more attributes with its perceived strength on other attributes. This calculation can be made in two ways:
- Equal importance distribution among the various attributes
- Weighted importance distribution among the various attributes.

Model is called compensatory because a shortfall on one attribute may be compensated by a good rating on another attribute.

Answer 3

- Conjunctive model: must have at least this much of these
- Disjunctive model: okay I am flexible; must have either this or that
- Lexicographic model: I will take the best on the most
- Elimination by aspects: At least this much on the most

Answer 4

- The disjunctive model considers the sheer presence or absence of attributes, rather than the degree in which these attributes are present.
- In the compensatory model, the attributes traded off need not serve the same purpose, whereas in the disjunctive model they tend to do so.

Answer 5

Yes, because
- The consumer just goes about selecting and rejecting alternatives in some ways, but those ways represent the patterns of these models.
- Consumers don't really assign numbers or do the calculations, they use qualitative labels. We as researcher assign the numbers. Thus in practice consumers use these patterns in a qualitative and therefore somewhat imprecise manner.