Research Interests:
Abstract In this article the effects of economic news on the formation of expectations, and on behaviour is discussed. How do people make causal attributions, form and revise expectations and how does this influence their spending and... more
Abstract In this article the effects of economic news on the formation of expectations, and on behaviour is discussed. How do people make causal attributions, form and revise expectations and how does this influence their spending and saving behaviour? Expectations are thus seen as intervening variables between stimulus and response, both at the individual and the aggregate level. Economic and psychological approaches to expectation formation are contrasted. Aggregate effects, such as self-fulfilling and self-negating effects, and the Index of Consumer Sentiment are discussed.
Research Interests:
Research Interests:
Research Interests:
Abstract Employed and unemployed people were compared in order to study the differences in economic (monetary) and psychological effects of their situations. The results are used to assess the advantages and disadvantages of employment... more
Abstract Employed and unemployed people were compared in order to study the differences in economic (monetary) and psychological effects of their situations. The results are used to assess the advantages and disadvantages of employment and unemployment and comparisons are made of the various income judgments of the two groups. On average, the income from employment needs to be at least 9% higher than unemployment benefits to compensate for the negative consequences of work. However, the actual income differences are much higher.
Research Interests:
Research Interests:
Abstract Four types of data are distinguished, based on individual (micro) vs aggregate (macro) level, and on cross-section vs time-series. Analytical properties of collectives may be formed through aggregation, while structural and... more
Abstract Four types of data are distinguished, based on individual (micro) vs aggregate (macro) level, and on cross-section vs time-series. Analytical properties of collectives may be formed through aggregation, while structural and integral properties of collectives have no individual-level counterpart. Aggregation is not simply a summation of individual properties. People take the behavior of others into account and adapt their own behavior. Time-series are different from cross-sections in many ways. While at the cross-sectional level buying intentions are predictive, attitudes are better predictors in time-series data. We come to the conclusion that time-series data are superior to cross-sectional data for estimating a regression coefficient, Cross-sectional data (Type 1) are largely confounded by individual differences, while time-series data (Type 4) provide a better estimate for the relevant effect. Individual panel data (Type 3) combine the good characteristics of Type 4 and Type 1 data, especially if treated in a tune-series fashion.
Research Interests:
ABSTRACT Both the ability to buy (household income) and the willingness to buy (attitude, expectation) determine consumer expenditure, saving and credit at the aggregate level. The willingness to buy, to save or to borrow, named consumer... more
ABSTRACT Both the ability to buy (household income) and the willingness to buy (attitude, expectation) determine consumer expenditure, saving and credit at the aggregate level. The willingness to buy, to save or to borrow, named consumer sentiment, is measured with a set of survey questions. These questions pertain to the evaluation and expectation of the general economic situation of the nation, household finances, inflation, unemployment, a good time to buy, and saving conditions. In this study it is shown that another subset of survey questions provides a better prediction of consumer spending, credit and saving than Katona's Index of Consumer Sentiment. Income is the most important determinant of consumer spending and saving. One of the principal component scores of the evaluation and expectation questions add to the explanation of consumer expenditure, credit, and savings, especially for durable goods and for credit.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Abstract An analysis is performed on the formal and content characteristics of 121 articles published in the first six volumes of the Journal of Economic Psychology (1981–1985), and the acceptance rates are computed. The formal... more
Abstract An analysis is performed on the formal and content characteristics of 121 articles published in the first six volumes of the Journal of Economic Psychology (1981–1985), and the acceptance rates are computed. The formal characteristics include length of articles, number of authors, nationality and discipline of authors and number of references. Content characteristics are topic, methodology and theoretical vs empirical. The topics of the articles are compared with the articles published in the Journal of Consumer Research .
Research Interests:
In this special issue of the Journal of Business Research, some new developments in marketing communication and consumer behavior will be sketched. The developments pertain to price communication, consumer information processing and... more
In this special issue of the Journal of Business Research, some new developments in marketing communication and consumer behavior will be sketched. The developments pertain to price communication, consumer information processing and attitude change, brand loyalty, memory for radio advertisements with the help of mnemonic devices, and the impact of sales promotion on store choice. The five papers of this
Research Interests:
KNAW Narcis. Back to search results. Publication Vertrouwen. Cement van de Samenleving en Aanjager van de Economie (2005). Pagina-navigatie: Main. Title, Vertrouwen. Cement van de Samenleving en Aanjager van de Economie. Author, Prast,... more
KNAW Narcis. Back to search results. Publication Vertrouwen. Cement van de Samenleving en Aanjager van de Economie (2005). Pagina-navigatie: Main. Title, Vertrouwen. Cement van de Samenleving en Aanjager van de Economie. Author, Prast, HM; Mosch, R.; Raaij, WF van ...
Research Interests:
Many attempted to develop burden of disease rankings for the purpose of resource allocation, priority setting, cost-effectiveness evaluation, and service development in healthcare. As this proved difficult the World Health Organization... more
Many attempted to develop burden of disease rankings for the purpose of resource allocation, priority setting, cost-effectiveness evaluation, and service development in healthcare. As this proved difficult the World Health Organization commissioned expert panels to develop internally consistent burden of disease rankings. Although these rankings provide valuable insight in the biomedical burden of different diseases, they do not yet provide insight in the psychological burden of different diseases experienced and reported by patients on a daily basis. Since expert reported and patient reported burden of disease could differ, deviations between expert reported and patient reported burden of disease rankings are likely. To explore how these rankings differ, it is important to develop patient reported burden of disease rankings and compare these to expert reported burden of disease rankings. In this study patient reported burden of disease rankings were developed by ranking the subject...
Research Interests:
The purpose of this study is to develop the world’s first psychographic market segmentation model that supports personalization, customer education, customer activation, and customer engagement strategies with financial advice robots. As... more
The purpose of this study is to develop the world’s first psychographic market segmentation model that supports personalization, customer education, customer activation, and customer engagement strategies with financial advice robots. As traditional segmentation models in consumer finance primarily focus on externally observed demographics or economic criteria such as profession, age, income, or wealth, post-hoc psychographic segmentation further supports personalization in the digital advisor’s service delivery. It might also provide insight into how to include the 4.5 billion underserved people financially and support inexperienced millennials in securing their future financially. To develop the psychographic segmentation, a survey (N= 2,232) has been conducted across the U.K. and the Netherlands. Factor analysis has been performed to define the following psychographic factors: “convenience,” “ financial illiteracy,” and “rigid personality.” Based on these factors, a Ward cluster ...
Research Interests:
Research Interests:
In addition to the personalization of medical treatment, there is an observable, growing trend toward tailoring support programs more closely to individuals. Supportive programs are non-medical programs that – in addition to medical... more
In addition to the personalization of medical treatment, there is an observable, growing trend toward tailoring support programs more closely to individuals. Supportive programs are non-medical programs that – in addition to medical treatment or intervention – intend to help improve patients’ health status. The segmentation model developed by Bloem & Stalpers (2012) may serve as a solid basis for such an approach. The model is not designed for or based on a general population; it is instead focused on individuals’ ‘health experience’ and is therefore a ‘cross-disease’ model. This model is based on the main psychological determinants of subjective health: acceptance and perceived control. The model identifies four segments of health-care consumers, based on high or low values on these determinants. The focus of the present study is to get insights into how the four segments differ in terms of person-related variables, such as socio-demographic and socio-economic variables. In the stu...
Research Interests:
Research Interests:
Research Interests:
Research Interests:
The provision of travel information may serve as a means of changing the behavior of individual travelers in ways that are beneficial to the transportation system at large. On the basis of the argument that a better understanding of... more
The provision of travel information may serve as a means of changing the behavior of individual travelers in ways that are beneficial to the transportation system at large. On the basis of the argument that a better understanding of travel behavior in the presence of traffic information is required, this paper reports on the analysis of a computer experiment investigating the effects of recommendations with different underlying control objectives on route choice under uncertainty. The results indicate that when potential congestion is anticipated, travelers use the recommendations provided as an indicator of the choices of other travelers as they conjecture the rate of compliance to reduce the uncertainty when they make decisions.
Research Interests:
Existing activity-based models are typically concerned with predicting observed aggregate activity-travel patterns. The interaction and dependencies between individuals have received less attention. Considered here is how one specific... more
Existing activity-based models are typically concerned with predicting observed aggregate activity-travel patterns. The interaction and dependencies between individuals have received less attention. Considered here is how one specific schedule choice, namely, the start time of an activity chosen by an agent, aggregates to form an equilibrium distribution, which in turn influences individual decision making. These choices are formalized as the outcomes of a game of incomplete information in which agents have to conjecture the behavior of other agents. The properties of the model are examined by using numerical computer simulations. The results of the simulations support the face validity of the formulated model.
Research Interests:
Research Interests:
ABSTRACT Psychologists and economists used to see the world from their own perspectives, but currently we observe a growing common perspective, called behavioral economics or economic psychology. Traditional differences between economists... more
ABSTRACT Psychologists and economists used to see the world from their own perspectives, but currently we observe a growing common perspective, called behavioral economics or economic psychology. Traditional differences between economists and psychologists concerned self-interest and rationality of people. Psychologists now are interested in the economists’ perspective, at least as a benchmark for actual behavior. Economists have now accepted that heuristics and biases are not idiosyncratic deviations but structural parts of human decision making. The experimental approaches in psychology and economics are also converging. A common language, mutual understanding and more collaboration between economists and psychologists are developing.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
ABSTRACT This article investigates consumers' anticipation of other consumers' service time choices in capacity-constrained services and how this is affected by publicly announced access recommendations. Empirical results... more
ABSTRACT This article investigates consumers' anticipation of other consumers' service time choices in capacity-constrained services and how this is affected by publicly announced access recommendations. Empirical results from an experiment with simulated congestion experiences show that the impact of consumers' anticipation of other consumers' service time choices is lower for first-time than for the repeated encounters. Despite consumers greater information need in first-time encounters, we predict that the impact of publicly announced access recommendations is lower in first-time than in repeated service encounters. The reason is that consumers have not yet learned how to take into account the impact of recommendations on other consumers' choices. However, we hypothesize that consumers do benefit from recommendations in that recommendations allow them to better anticipate other consumers' choices and are also able to learn about others' choices sooner than in case no recommendations are provided.
Research Interests:
Research Interests:
Research Interests:
Proposes domain‐specific market segmentation as a promising approach as compared with segmentation based on general or on brand‐specific variables. Treats product differentiation and positioning as the counterpart of market segmentation.... more
Proposes domain‐specific market segmentation as a promising approach as compared with segmentation based on general or on brand‐specific variables. Treats product differentiation and positioning as the counterpart of market segmentation. The link between market segmentation, on the one hand, and product differentiation, on the other hand, is the product benefit. The product benefit is the interaction of the product and the consumer.
Research Interests:
Many psychological models of consumer behaviour use the construct of attitude, whereas in economic models behaviour is determined by costs and benefits under budget constraints. In this article, a behavioural cost‐benefit approach to... more
Many psychological models of consumer behaviour use the construct of attitude, whereas in economic models behaviour is determined by costs and benefits under budget constraints. In this article, a behavioural cost‐benefit approach to consumer behaviour is proposed. Behavioural costs include time, physical and psychic costs of initiating, maintaining and changing behaviour. A behavioural model is proposed, in which cost‐benefit trade‐offs of behaviours play a central role. Some marketing applications on the evaluation of products, on the prediction of behavioural intentions and on shopping behaviour are discussed.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
... CJ van Duijn, voor een commissie aangewezen door het College voor Promoties in het openbaar te verdedigen op woensdag 22 maart 2006 ... Theo Arentze, Peter van der Waerden and Astrid Kemperman for helping me out in explaining models... more
... CJ van Duijn, voor een commissie aangewezen door het College voor Promoties in het openbaar te verdedigen op woensdag 22 maart 2006 ... Theo Arentze, Peter van der Waerden and Astrid Kemperman for helping me out in explaining models and software, Leo van Veghel ...