The study proposes and tests a model of consumer bank choice behavior in a south eastern city in the USA, based on the economics of information theory. The model expands the domain of inquiry beyond the initial level attributes to the first-order latent construct and the second-order (composite) levels. Results suggest that consumer bank choice behavior can be represented as a global construct with three viable components (search, credence and experience) and provide implications for bank managers.
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Babakus et al. (2004) studied this question.
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