Consumers Behavior with Information-Processing Capacity Constraints

Abstract

This study analyzes the consumer behavior to highlight the intervening processes and factors in the decision-making process, taking as a reference the act of purchase. The contribution of this paper is to approach representative concepts for analytical purposes on decision making processes and advance in the analysis of the limited capacity of the consumer. We show decisions and preferences of the same purchase are not constant over the time, instead, are outcome of a complex process, affected by circumstances and environment that takes place in a given time. Focus on the reasoning ability underlies of purchase decision, a flow diagram was designed to represent a type of limited information processing model. Then, according to the theoretical framework of Rubinstein (1998) We introduce a model of agent with limited capacity in the  of processing of information. The model has a variant on the structure of consumer information ‘brand effect’ and it supposes loss aversion "effect minimum satisfaction".

Keywords: Consumer Behavior, bounded rationality, the information processing theory, making decision, preference of the consumer.