The Effects of Bargainable Attributes and Attribute Range Knowledge on Consumer Choice Processes

Abstract

The bargaining purchase process is viewed as a multiattribute, multialternative choice in which the attribute values are subject to change. Bargaining is studied empirically by directly comparing information search strategies for purchase tasks that do and do not include a bargaining component. Knowledge of attribute value ranges is manipulated to examine its effects on bargaining and non-bargaining purchase tasks. The results provide evidence that buyers reduce information search when they have the option of bargaining. Furthermore, knowledge of attribute value ranges appears to increase the degree to which buyers replace information search with bargaining.