This thesis presents a model for the buying behavior of consumers in a technology market. In this model, a potential consumer is not perfectly rational, but exhibits bounded rationality following the axioms of prospect theory: reference dependence, diminishing returns and loss sensitivity. To evaluate the products on different criteria, the analytic hierarchy process is used, which allows for relative comparisons. The analytic hierarchy process proposes that when making a choice between several alternatives, one should measure the products by comparing them relative to each other.
Download count: 0
- Partial requirement for: M.A., Arizona State University, 2014Note typethesis
- Includes bibliographical references (p. 33-35)Note typebibliography
- Field of study: Applied mathematics