Abstract
This study proposes a model of consumer choice behavior as sequential decision process. It is hypothesized that consumers form desirable product model and undesirable one through purchasing experience, by which they decide on whether a brand should be purchased or not. This study analyzes the dynamic process of formation of belief about brands and decision making through collecting information. We verified the ff.: how consumer belief is influenced by initial belief (2.3), why attributes with small utility can play an important role (2.4), how sellers improve their brands (3.1), when consumers can sacrifice correctness of choice for minimizing opportunity loss (3.2), and how choice environment is defined (3.3).
