If consumers were strictly rational in their evaluation of an - TopicsExpress

If consumers were strictly rational in their evaluation of an exchange, they would consider only the outcome or benefits they receive relative to inputs they provide. However, according to transaction utility theory, when consumers evaluate an offer, they consider two separate utilities: an acquisition utility, which encompasses the material value of what is received relative to what must be exchanged, and a transaction utility, which is an evaluation of the perceived merit of the exchange itself, primarily as an evaluation of the fairness of the exchange.

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