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Shock determination in a two‐stage decision‐making model: The case of COVID‐19 in Colombia.
- Source :
- Managerial & Decision Economics; Sep2022, Vol. 43 Issue 6, p2587-2597, 11p
- Publication Year :
- 2022
-
Abstract
- The contributions of this paper are as follows: (a) proposing a two‐stage model to study whether an event has temporary or permanent effects on the probability of choosing a good within a market basket that traditional decision theory cannot explain and (b) studying the effects of COVID‐19 on consumers' decisions in Colombia. Findings suggest that the pandemic has transitory effects on preferences in the short run. If it lasts longer, it could induce to permanent changes. Thus, this model can be used to analyze the temporary or permanent effects of any event, regardless of its nature or geographical region, on consumer's decision. [ABSTRACT FROM AUTHOR]
- Subjects :
- COVID-19 pandemic
DECISION theory
DECISION making
COVID-19
PANDEMICS
Subjects
Details
- Language :
- English
- ISSN :
- 01436570
- Volume :
- 43
- Issue :
- 6
- Database :
- Complementary Index
- Journal :
- Managerial & Decision Economics
- Publication Type :
- Academic Journal
- Accession number :
- 158412399
- Full Text :
- https://doi.org/10.1002/mde.3547