Study On Consumers' Purchase Behavior Of Network Information Products Based On Bounded Rationality

With the further development of e-commerce,the network information products,such as software,music,e-books,online news,online games,online video,financial services,travel services etc.,have taken a significant proportion in the e-commerce market.Consumer purchase behavior has become an important research topic in network information products market.This paper attempts to research consumer purchase behavior in network information products from the perspective of the bounded rationality theory,and explore the impact mechanism of bounded rationality on consumer purchase behavior,as well as the dynamic process of change in consumer behavior.Specific research contents are as follows:To begin with,the paper reviewed the related literature about bounded rationality of individual behavior and consumer online purchase behavior.By analyzing the literature,it was showed that bounded rationality is a widespread phenomenon in individual behavior decision,and the bounded rationality factors of individual behavior included the biographical feature characterized by demographic such as age,gender,cultural background,marriage,etc.,and the non-biographical feature influencing individual behavior mainly from cognitive,abilities,attitudes,emotions,motivation and other factors.The research of online consumer purchase behavior can mainly be classified into four categories of conceptual research and instrument development Individual characteristics,consumer perception,environmental characteristics,and product and medium characteristics.Furthermore,the paper proposes a hypothesis model of consumer purchase intention to network information products based on bounded rationality according to the individual behavior model.The model includes eight latent variables:purchase habit,purchase experience,mood,ability,risk attitude,cognitive,purchase motivation,and purchase intention.And then,the paper defines each latent variable and designs measurement scale.Research data was obtained by questionnaires.After testing the reliability and validity of the sample data,the paper verified the model by structural equation model.The results show that fifteen research hypotheses are by testing except for the hypothesis H11.Meanwhile,through the analysis of cognitive mediation nested models,it shows that cognitive is a full mediation impacting purchase habit,purchase experience,emotions,abilities,risk attitudes to purchase intention.Finally,the paper analyzes reference point behavior of consumer decision in the prospect theory,and proposes research hypotheses of consumer behavior dynamic change based on cognitive updates.After that,the paper design five scenarios experiments to verify the research hypothesis.By variance analyzing,the results of experiment show that there are significant reference effect and loss aversion effect of consumer cognitive attribute on the network information products purchase.It is worth noting that the impact of purchase motivation on consumer purchase behavior was not significant.The main conclusions of the paper are as follows:(1)Purchase habit,cognition,purchase motivation has direct impact on purchase intention,and purchase motivation impact purchase intention mostly.(2)Impact of risk attitudes on cognition was not significant.It suggests that the risk attitude of radical(risk appetite type),sound(risk-neutral type),conservative(risk averse)had no impact on change of consumer cognitive.(3)In the impact of purchase habit,purchase experience,emotions,abilities on the purchase intention,cognitive plays a strong direct mediation effect.Therefore,in the purchase activities of network information product,the supplier of products and services should pay attention to raising consumer cognitive,to ensure that consumers obtain cognitive benefit.(4)In the consumer purchase decision of network information products,there is a reference effect on cognitive attribute.The down regulating extent of reference point when consumers suffer cognitive loss is much more than the up-regulation extent when consumers obtain cognitive benefit,indicating consumers' sensitivity of cognitive loss is much stronger than their sensitivity of cognitive benefits.(5)In the consumer purchase decision of network information products,there is a loss aversion effect on cognitive attribute.After obtaining cognitive benefits,consumer chooses to avoid risk.But consumer chooses to pursue risk when suffer cognitive loss,and then the coefficient of loss aversion ?is 1.55.(6)In the consumer purchase decision of network information products,there is no direct impact of purchase motivation on the adjustment of reference point.Changes in consumer attribute have nothing to do with the utilitarian motivation and hedonic motivation.This result indirectly verifies the theoretical model assumptions that cognitive is an antecedent of purchase motivation,impacts purchase intention by purchase motivation.