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http://dx.doi.org/10.22156/CS4SMB.2019.9.4.152

A Study on the Effect of Experience-specificity and Uncertainty on Choice in Experiential Products -From Transaction Cost Perspective-  

Jeong, Yun-Hee (Department of Business Administration, Konkuk University)
Park, JI-Yeon (Institute of Entrepreneur Management, Ulsan University)
Publication Information
Journal of Convergence for Information Technology / v.9, no.4, 2019 , pp. 152-159 More about this Journal
Abstract
The purpose of this study is to investigate the effect of transaction characteristics on transaction cost and choice intention by applying transaction cost theory to experiential product. Experience-specificity, transaction uncertainty, and personal uncertainty are proposed to reflect the characteristics of experiential products, and the effects of these variables on transaction costs and transaction costs are assumed to have an influence on the choice intention. The results of this study are summarized as follows. First, experience-specificity(site, physical equipment, knowledge skill, temporal), transactional uncertainty(product-, process-), personal uncertainty (preference-, and situation-) have a significant positive effect on transaction cost. Second, transaction costs (search, comparison, examination, negotiation, payment, delivery) have a significant negative effect on the choice intention of the experiential product. The results of this study show that the increase of transaction costs can reduce the choice of experiential products and the strategic consideration of experience specificity, transaction uncertainty and individual uncertainty are required to reduce transaction costs. In addition, experiential products lacked access from a transactional and cost-based point of view, and this study contributes theoretically by compensating for the lack.
Keywords
Experiential product; Transaction cost; Experience-specificity; Transactional uncertainty; Personal uncertainty;
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Times Cited By KSCI : 3  (Citation Analysis)
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