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Constructing a consumption model of fine dining from the perspective of behavioral economics
Sheng-Hsun Hsu1, Cheng-Fu Hsiao2,3, Sang-Bing Tsai4
1Department of Business Administration, Chung Hua University, Hsinchu, Taiwan.
Abstract:
Numerous factors affect how people choose a fine dining restaurant, including food quality, service quality, food safety, and hedonic value. A conceptual framework for evaluating restaurant selection behavior has not yet been developed. This study surveyed 150 individuals with fine dining experience and proposed the use of mental accounting and axiomatic design to construct a consumer economic behavior model. Linear and logistic regressions were employed to determine model correlations and the probability of each factor affecting behavior. The most crucial factor was food quality, followed by service and dining motivation, particularly regarding family dining. Safe ingredients, high cooking standards, and menu innovation all increased the likelihood of consumers choosing fine dining restaurants.
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