The Bounded Rationality Of Online Consumers' Purchase Decision-making Process In Editing Phase

According to CNNIC's survey,by the end of 2015,China's online shopping users scale has reached 413 million.With the rapid development of e-commerce industry,an increasing number of consumers choice the online shopping way due to the characteristics of convenience,speediness and affordability.However,compared with the traditional way of offline shopping,online purchase faces more uncertainty making against the behavior of the"rational man" assumption.So limited rational analysis of the online shopping decision process has gradually become a hot topic in the academia.Based on Kahneman's decision-making process of model,this paper proposes the frame of online consumers decision-making.This paper divides consumers' decision process into editing phase and evaluation phase,bringing four cognitive biases into editing phase to study the exists of bias in online consumers decision-making process.The empirical research adopts the experimental method of questionnaire,by 2(product category)x 2(factors)experiment,analyzing the different influence factors will or not cause the editing stage to present the results of different.The results show that,the editing phase of online consumer decision process exists cognitive biases.Specifically,in purchase information collected stage,website positioning,and shop category(flagship shop/not well-known shop)produce representative heuristics.Products in search page of location,and shop category(has purchase shop/strange shop)produce availability heuristic.Reference price produces anchoring and adjustment heuristic.Free postage or not leds to framing effect.Second,in purchase information storage stage,shop rating produces representative heuristics.History promotions price existing or not produces anchoring and adjustment heuristic.Online evaluation of the pros and cons of elaboration leds to framing effect.The different way of characterize merchandise's information leds to availability heuristic in clothing purchasing.The existence of these cognitive biases will result in the editing results,purchase options,appearting a certain degree of bounded rationality and that will affect the final purchasing decisions of consumers.In the end,this paper offers several marketing suggestions to online retailers and to online consumers.This paper also discusses the limitation and future directions of this study.