Reasoning or reacting to others? How consumers use the rationality of other consumers

Consumers adapt their behavior to the structure of the information available in the environment where they form expectations. One factor in people's environments is other people. "Others" are a significant source of information and means of orientating oneself. In conditions such as uncertainty, insecurity, anxiety but also euphoria, it is "the others" who provide market participants with coordinates. The purpose of this paper is to pass forward an approach that relates to consumers' other-directedness and to demonstrate in what ways consumers use the rationality of other consumers. (c) 2005 Elsevier Inc. All rights reserved.