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When making choices, decision makers often either lack information about alternatives or lack the cognitive capacity to analyze every alternative. To capture these situations, we formulate a framework to study behavioral search by utilizing the idea of consideration sets. Consumers engage in a...
Persistent link: https://www.econbiz.de/10010691959
A challenging issue in modern choice theory is how to enrich the kind of data available to the researcher along with … our understanding of the decision-making process. We propose an axiomatic characterization of the ‘satisficing’ heuristic …
Persistent link: https://www.econbiz.de/10010594627
provide choice-theoretic foundations for warm glow theory. We characterize the empirical content of warm glow theory, show how …
Persistent link: https://www.econbiz.de/10010728084
, experienced time, especially for individual choice. The conventional way of modeling choice is to think of it as the solution to a … constrained maximization problem. If, however, we look at choice as a process in time it is inseparable from the evolution and … choice is thus the expression of autonomy and not the satisfaction of given preferences. The implications of this for …
Persistent link: https://www.econbiz.de/10010863661
for various choice situations are consistent with a hypothesis of maximization of preference preorders by members of the … the non-finite choice sets encountered in economic consumer theory. Copyright Springer-Verlag Berlin/Heidelberg 2005 …
Persistent link: https://www.econbiz.de/10005753334
We examined choice behavior in younger versus older adults using a medical decision-making task similar to Medicare … Part D. The study was designed to assess age differences in choice processes in general and specifically designed to … examine the effect of choice set size on performance. Data are drawn from a larger study on choice and aging, in which ninety …
Persistent link: https://www.econbiz.de/10005773043
that new experiments could provide to the school choice debates by generating new data to settle longstanding questions. …
Persistent link: https://www.econbiz.de/10008694149
school choice literature. The available data come mostly from limited policy experiments with only modest amounts of choice … services that aim for large expansions of choice and competition. It is difficult to cleanly separate theoretical priors from …
Persistent link: https://www.econbiz.de/10008694160
Persistent link: https://www.econbiz.de/10008458211
We derive a family of probabilistic choice models including the multinomial logit model, from a microeconomic model in … alternatives. The present model also applies to continuum choice sets in Euclidean spaces, and provides a microeconomic foundation …
Persistent link: https://www.econbiz.de/10005771086