Utility maximizing and regret minimizing models (RUM and RRM respectively) assume different decision rules, and additionally that these rules are conceptually and mathematically distinguishable. Yet, studies that pit them against each other or incorporate them into a heterogeneous decision rule...

From a practical perspective, (arguably) most consumer decisions are not made in isolation of the households in which consumers are inserted, yet we commonly treat them econometrically as if they were. The purpose of this workshop was to take some initial steps in defining needed research in...

The psychology, the marketing consumer behavior and, to a much smaller extent, the economics literature have long reported evidence that decision makers utilize different decision strategies depending upon many factors (person-specific, task-specific, etc.). Such observations have generally...

The literature indicating that person-, context-, and task-specific factors cause consumers to utilize different decision strategies has generally failed to affect the specification of choice models used by practitioners and academics alike, who still tend to assume an utility maximizing,...

This paper introduces a new member of the generalized extreme value (GEV) family of discrete choice models that directly incorporates choice set generation modeling into the specification via the GEV generating function. Though still a two-stage model of choice set generation and choice, the...

This paper proposes a behavioral interpretation of the choice set generation process that is useful for structuring and specifying discrete models that incorporate this stage of choice. The key concept is the notion of random constraints, which is operationalized in the form of probabilistic...