Process and context in choice models
Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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Process and context in choice models. / Ben-Akiva, Moshe; de Palma, André; McFadden, Daniel; Abou-Zeid, Maya; Chiappori, Pierre-André; de Lapparent, Matthieu; Durlauf, Steven N.; Fosgerau, Mogens; Fukuda, Daisuke; Hess, Stephane; Manski, Charles; Pakes, Ariel; Picard, Nathalie; Walker, Joan.
I: Marketing Letters, Bind 23, Nr. 2, 06.2012, s. 439-456.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Process and context in choice models
AU - Ben-Akiva, Moshe
AU - de Palma, André
AU - McFadden, Daniel
AU - Abou-Zeid, Maya
AU - Chiappori, Pierre-André
AU - de Lapparent, Matthieu
AU - Durlauf, Steven N.
AU - Fosgerau, Mogens
AU - Fukuda, Daisuke
AU - Hess, Stephane
AU - Manski, Charles
AU - Pakes, Ariel
AU - Picard, Nathalie
AU - Walker, Joan
PY - 2012/6
Y1 - 2012/6
N2 - 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.
AB - 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.
KW - Context
KW - Decision making process
KW - Econometric models
KW - Social networks
KW - Subjective data
UR - http://www.scopus.com/inward/record.url?scp=84862129350&partnerID=8YFLogxK
U2 - 10.1007/s11002-012-9180-7
DO - 10.1007/s11002-012-9180-7
M3 - Journal article
AN - SCOPUS:84862129350
VL - 23
SP - 439
EP - 456
JO - Marketing Letters
JF - Marketing Letters
SN - 0923-0645
IS - 2
ER -
ID: 181872311