We provide two nested models of random reference-dependent choice in which the reference point is endogenously determined by random processes. Random choice …
T Marchant, A Sen - Journal of Mathematical Psychology, 2023 - Elsevier
We propose and characterize a class of stochastic decision functions for a decision-maker who has a capacity for processing at most k-alternatives at a time. When faced with a menu …
Multivalued choice rules, or choice correspondences, are effective means to describe a wide array of behaviors conforming to and deviating from rationality. Modeling heterogeneity in …
K Valkanova - arXiv preprint arXiv:2410.22001, 2024 - arxiv.org
We examine the effect of item arrangement on choices using a novel decision-making model based on the Markovian exploration of choice sets. This model is inspired by experimental …
The degree to which consumers treat different options as distinct or differentiated is a key determinant of market competition and pricing. To facilitate the measurement of …
We propose a boundedly rational model of choice where agents eliminate dominated alternatives using a transitive rationale before making a choice using a complete rationale …
I propose a procedural model of random choice called visual choice based on the eye movements of individuals. The decision maker fixates randomly on alternatives, and …
In this dissertation, I model individuals who have limited attention due to different reasons and the impact of this on the market competition. I propose three theoretical models two of …
Measurement error is an important concern in empirical and experimental work on discrete choice. Ignoring it may lead to an (under) over rejection problem, whereby observed choices …