Interactive Decision Aids Effects on Consumers, Retailers, and Manufacturers [Paperback]

Nina Mazar examines the effects of an interactive tool that can tailor information extremely fast: the interactive comparison matrix (CM). It provides product related information in a 'product by attribute' matrix and allows products to be sorted by any attribute. The author shows that the interactive CM has the potential to represent a useful and practicable solution matching the needs of both consumers and online retailers.In a time where the Internet and online retailing play a proliferating role in the world-wide economy, it is of major concern to understand e-commerce's advantages and pitfalls. Only then retailers and manufacturers can act effectively in this extremely competitive market. In this context interactive decision aids, or so called smart agents, are becoming more and more important. While it is known that their key advantage lies in offering various levels of interac? tivity with which information can be tailored to each consumer's idiosyncratic needs, little is known about its particular advantages for consumers, retailers, or manufacturer when com? pared to the alternative of offline shopping. Nina Maiar's work targets exactly this shortcoming. To be more precise, she deals with one of the currently most feasible interactive decision aids in order to show its usefulness for dif? ferent product categories and effects on all actors in the market. Based on profound findings from research on constructive consumer preferences and economics of information, Nina Maiar analyses the consequences in an experimental simulation and demonstrates the deci? sion aid's effectiveness and boundaries.Advantages and pitfalls of eCommerce for retailersThe theoretical concept of the adaptive decision makerThe role of interactive decision aids in eCommerceAn empirical comparison of shopping online with an interactive comparison matrix and offline without any aidManagerial implications for retailers and manufacturersFurther research questions in the context of the interal³|