A Study of Consumer Decision-making Model with Dual-mechanism

This paper studies the decision-making behavior of consumer with dual-mechanism. It constructs a delay cost function of consumers and studies the consumer decision-making behavior with dual-mechanisms, which develops the consumer decision-making model with valve strategy and presents a general form. It indicates that considering delay cost of participating in auction, the high evaluation consumer will using valve strategy based on time t. high evaluation consumers select auction on condition that remaining time t, is larger than t, in contrast, they select fixed posted price if t is larger than remaining time t(c). Further study finds that no matter linear or exponent form of delay cost, high evaluation consumers will make decision with valve strategy based on time (t) over bar once delay cost is strictly increase with remaining time of auction t(c).