Measuring the Impact of Informational Democracy on Consumer Power: A New Application for an Old Tool
BUILDING A CONCEPTUAL FRAMEWORK: THE 'GET' AND 'GIVE' CONSUMER TRADE-OFF AND THE VALUE MAP
Economic theory academics have sometimes represented consumer price–quality trade-offs using consumer value maps. A value map consists of 'indifference curves, drawn in price–quality space, that represent indifferent combinations of price and quality for consumers' (Connelly 2003, p. 909).
They draw increasing indifference curves, indicating that a higher price must be compensated by greater quality, so...