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Extended Framework for Modeling Choice Behavior
| Content Provider | Semantic Scholar |
|---|---|
| Author | Ben-Akiva, Moshe E. |
| Copyright Year | 1999 |
| Abstract | We review the case against the standard model of rational behavior and discuss the consequences of various `̀€ anomalies'' of preference elicitation. A general theoretical framework that attempts to disentangle the various psychological elements in the decision-making process is presented. We then present a rigorous and general methodology to model the theoretical framework, explicitly incorporating psychological factors and their in ̀„uences on choices. This theme has long been deemed necessary by behavioral researchers, but is often ignored in demand models. The methodology requires the estimation of an integrated multi-equation model consisting of a discrete choice model and the latent variable model system. We conclude with a research agenda to bring the theoretical framework into fruition. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.raai.org/about/persons/laritchev/papers/text/Ben-Akiva_McFadden_Gopinath_Garling_Bolduc_Borsch-Supan_Delquie_Larichev_Morikawa_Polydoropoulou_Rao_1999.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
