We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...

The South African wine industry has recently launched the world's first 'no sulphite added' wine made from indigenous Rooibos & Honeybush toasted wood chips. This wood chip contains antioxidant properties known to protect wine from oxidation. On the other hand, SO2 as a preservative, is often...

We model a boundedly rational agent who suffers from limited attention. The agent considers each feasible alternative with a given (unobservable) probability, the attention parameter, and then chooses the alternative that maximises a preference relation within the set of considered alternatives....

The current level of competition in European commercial passenger rail markets is low and empirical data on customer preferences in intramodal competition has hardly been available, yet. Our study raises the knowledge of competition in commercial passenger rail by exploring the determinants of...

It is a common finding in empirical discrete choice studies that the estimated mean relative values of the coefficients (i.e. WTP's) from multinomial logit (MNL) estimations differ from those calculated using mixed logit estimations, where the mixed logit has the better statistical fit. However,...

Discrete Choice Experiments (DCEs) designed to estimate willingness-to-pay (WTP) values are very popular in health economics. With increased computation power and advanced simulation techniques, random-coefficient models have gained an increasing importance in applied work as they allow for...

This paper develops a new methodology to analyze how parents in Rajasthan, India make choices about their daughters' schooling and marriage. We specify a dynamic discrete choice model in which parents face uncertainty about the quality of their daughter's future marriage offers. Parents' choices...