Handbook of Economic Psychology

pp 332-357

Models of Consumer Choice Behavior

  • Monroe FriedmanAffiliated withEastern Michigan University

* Final gross prices may vary according to local VAT.

Get Access


No review of the scholarly literature of economic psychology would be complete without some treatment of the process of consumer choice leading to the acquisition of goods and services. The present chapter examines five conceptual models of consumer choice behavior. None of these models can be considered old. Two originated in the mid-1960’s while the remaining three were developed (or revised) in the last ten years. Thus the development of this theoretical area has been a relatively recent phenomenon in economic psychology.