ESRI publishes report on consumer decision making
May 13, 2016
The first report of the collaborative behavioural economics research programme, PRICE Lab, has been published, providing insights into consumers’ capability when considering complex products. PRICE Lab (Programme of Research Investigating Consumer Evaluations) is a collaborative research programme, undertaken by the ESRI. The programme has been jointly funded by the Competition and Consumer Protection Commission, the Central Bank of Ireland, the Commission for Energy Regulation and the Commission for Communications Regulation.
PRICE Lab uses computerised experiments to study how well consumers make decisions when faced with multi-attribute products. The report sets out the results of experiments to identify when products become too complex for consumers to be able to accurately identify the best option available.
The PRICE Lab Report is available on the ESRI website here.
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