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Journal of International Technology and Information Management

Document Type

Article

Abstract

Understanding the process of consumers' buying decisions is not intuitively obvious from the way it appears. Before we come up with any acceptable account of the process, we should learn more about consumers' traits as well as the characteristics of the goods or services they intend to purchase. The goal of this study is to establish the alignment of consumers' buying decisions with information choice and determine why consumers may or may not make buying decisions compatible with reviewer comments. To explain the reality of multiple consumer equilibria, the paper draws on the four information choice theories: inattentiveness, rational inattention, information markets, and costly precision. Based on the theories, this paper considers why consumers may arrive at different buying decisions through their choice and processing of signals from consumer product reviews though the reviews are identical and considering that, in general, higher product ratings are associated with higher sales. Overall, this paper contributes to a better understanding of why consumers arrive at different buying decisions from the same pool of online consumer product reviews.

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