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Heuristics and biases in decisions to stay with or renege from sequential waits.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Heuristics and biases in decisions to stay with or renege from sequential waits.
Author:	Janakiraman, Narayanan.
Description:	117 p.
Notes:	Adviser: Robert J. Meyer.
Notes:	Source: Dissertation Abstracts International, Volume: 64-10, Section: A, page: 3761.
Contained By:	Dissertation Abstracts International64-10A.
Subject:	Business Administration, Marketing.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3109188
ISBN:	0496567314

Heuristics and biases in decisions to stay with or renege from sequential waits.
Janakiraman, Narayanan.

Heuristics and biases in decisions to stay with or renege from sequential waits. [electronic resource] - 117 p.

Adviser: Robert J. Meyer.

Thesis (Ph.D.)--University of Pennsylvania, 2003.

Consumer wait situations such as being put on hold during a telephone call require the consumer to make continuous decisions on whether to stay on line and receive service or terminate the current wait and reinitiate a new wait. The key question that is addressed in my dissertation is how do consumers decide how long to wait and when to renege? I expect that going into a wait situation consumers are likely to hold optimistic priors about wait completions. Further, as the wait progresses, rational instincts to stay during the wait are increasingly likely to be affected by various psychological factors such as emotional cost of the wait, uncertainty about the wait, perceptions about likely length of future wait and the extent to which prior wait expectations are violated. The net effect is that I expect consumers to abandon waits when they perceive the utility of the current wait net of the psychological factors as less than that associated with starting a new wait. I study renege decisions in contexts where it is never optimal to renege and in contexts where it is optimal to renege within a small window of time and show that consumer decisions to renege are far from optimal and are likely driven by psychological factors. Further, I show how moderators such as activity within a wait, often used as time management strategies by marketers, are likely to affect decisions to stay or renege.

ISBN: 0496567314Subjects--Topical Terms:

212494
Business Administration, Marketing.

Heuristics and biases in decisions to stay with or renege from sequential waits.
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502 $a Thesis (Ph.D.)--University of Pennsylvania, 2003.
520 # $a Consumer wait situations such as being put on hold during a telephone call require the consumer to make continuous decisions on whether to stay on line and receive service or terminate the current wait and reinitiate a new wait. The key question that is addressed in my dissertation is how do consumers decide how long to wait and when to renege? I expect that going into a wait situation consumers are likely to hold optimistic priors about wait completions. Further, as the wait progresses, rational instincts to stay during the wait are increasingly likely to be affected by various psychological factors such as emotional cost of the wait, uncertainty about the wait, perceptions about likely length of future wait and the extent to which prior wait expectations are violated. The net effect is that I expect consumers to abandon waits when they perceive the utility of the current wait net of the psychological factors as less than that associated with starting a new wait. I study renege decisions in contexts where it is never optimal to renege and in contexts where it is optimal to renege within a small window of time and show that consumer decisions to renege are far from optimal and are likely driven by psychological factors. Further, I show how moderators such as activity within a wait, often used as time management strategies by marketers, are likely to affect decisions to stay or renege.
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