When confronted with product whose attributes are unknown, consumers can determine its quality by either trying it or wait to observe the experience of predecessors. Based on this attitude, we illustrate the economic behavior of choice among movie goers and how distributors and exhibitors adapt to the behavior to optimize Box O ce collection. Speci cally, we explain how the adaptive behavior among the heterogeneous consumers enables the evolution of optimal choice. Although the arrival of choice can explain the convergence or clustering of opinions, it is not a static point in the classical...
When confronted with product whose attributes are unknown, consumers can determine its quality by either trying it or wait to observe the experience o...