A Model of Consumer Decision Making Under Severe Time Constraints: First Empirical Test

Abstract

A model for predicting decision making under severe time constraints—panic decision making (PDM)—is presented and its eight structural factors are empirically tested for last minute Valentine’s Day gift purchases. The U method was used to test for bias in the classification rates and the results support the overall model. Hypothesis testing for the influence of the model’s structural factors, as well as testing for the stability of the coefficients, was accomplished by examining the signs of the total structure coefficients from 20 random subsamples. The majority of the hypotheses were supported.