Consumer Behavior Models Applied to Food Sector
Rational Choice Models
The rational choice model is built on scientific foundations of classical economics focusing on the individual as the unit of analysis.
The basic assumption of the model is that consumer behavior is a continuous process of making a deliberative choice between different modes of action in order to maximize the expected net benefit at the lower expected net cost for the individual. The model distinguishes two separate components of the process of establishing the net costs and benefits of different alternatives—a series of expectations about the outcomes of each choice and evaluation of these outcomes. The value applied to the outcomes is often called utility of the outcomes for given individual. In this sense, we can consider the model as a representative of the group of models of subjective expected utility (Jackson 2005; Gorton and Barjolle 2013).
Two rational models with great application in this sector could be found in the study of consumer food choices: the consumer preference model and the attribute model.