Process and context in choice models
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Ben-Akiva_Process and.pdf
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Author(s)
McFadden, Daniel
Abou-Zeid, Maya
de Lapparent, Matthieu
Durlauf, Steven N.
Fosgerau, Mogens
Fukuda, Daisuke
Hess, Stephane
Manski, Charles
Pakes, Ariel
Picard, Nathalie
Date Issued
May 2012
Journal
Marketing Letters
Publisher
Springer-Verlag
Citation
Ben-Akiva, Moshe, André Palma, Daniel McFadden, Maya Abou-Zeid, Pierre-André Chiappori, Matthieu Lapparent, Steven N. Durlauf, et al. “Process and Context in Choice Models.” Marketing Letters 23, no. 2 (May 17, 2012): 439–456.
Version
Author's final manuscript
Abstract
We develop a general framework that extends choice models by including an explicit representation of the process and context of decision making. Process refers to the steps involved in decision making. Context refers to factors affecting the process, focusing in this paper on social networks. The extended choice framework includes more behavioral richness through the explicit representation of the planning process preceding an action and its dynamics and the effects of context (family, friends, and market) on the process leading to a choice, as well as the inclusion of new types of subjective data in choice models. We discuss the key issues involved in applying the extended framework, focusing on richer data requirements, theories, and models, and present three partial demonstrations of the proposed framework. Future research challenges include the development of more comprehensive empirical tests of the extended modeling framework.
MIT Department
Massachusetts Institute of Technology. Department of Civil and Environmental Engineering
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Creative Commons Attribution-Noncommercial-Share Alike
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DOI of Published Version
https://doi.org/10.1007/s11002-012-9180-7
