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ISSN : 1229-8778
This study examines consumer inferences about product attributes that are unobservable at the time of the decision. The purpose of this study is that consumers use their knowledge of market efficiency, the availability of the price information, interattribute correlation, and product type to make inferences about the unobservable attributes when a certain attribute of the alternatives is unavailable. The results of experiment 1 are the following. First, main effect about the availability of price information was significant. Second, two way interaction of market efficiency × price parity information was significant. Therefore, the availability of price information moderates the impact of perceived market efficiency on consumer's inference strategy. According to the result of experiment 2, only interattribute correlation was significant to consumer inference among three of them. Thus in the presence of attributes that were perceived to be correlated, a significant number of subjects made compensatory inferences. But in the absence of interattribute correlation, compensatory inferences were significantly stronger and comparable in strength to evaluative consistency inferences. In a series of two experiments, we showed that compensatory inferences were more pronounced when price information was available, compared with when price information was not provided. And this study showed that for equally priced brands, the brand that is superior on the available attributes was more likely to be perceived as inferior on the unobservable attribute in the presence of efficiency cues. Also, in presence of cues for probabilistic inference, consumers are more likely to draw compensatory inferences.
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