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Cube model: Predictions and account for best–worst choice situations with three choice alternatives

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  • Diederich, Adele
  • Mallahi-Karai, Keivan

Abstract

The Cube model (Mallahi-Karai and Diederich, 2019) is a dynamic-stochastic approach for decision making situations including multiple alternatives. The underlying model is a multivariate Wiener process with drift, and its dimension is related to the number of alternatives in the choice set. Here we modify the model to account for Best–Worst settings. The choices are made in a number of episodes allowing the alternatives to be ranked from best to worst or from worst to best. The model makes predictions with respect to choice probabilities and (mean) choice response times. We show how the model can be implemented using Markov chains and test the model and a simpler variation of it on data from Hawkins et al. (2014b).

Suggested Citation

  • Diederich, Adele & Mallahi-Karai, Keivan, 2023. "Cube model: Predictions and account for best–worst choice situations with three choice alternatives," Journal of choice modelling, Elsevier, vol. 49(C).
    • Handle: RePEc:eee:eejocm:v:49:y:2023:i:c:s1755534523000490
    DOI: 10.1016/j.jocm.2023.100448
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    References listed on IDEAS

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    1. Sophie-Anne Baker & Thom Griffith & Nathan F. Lepora, 2022. "Degenerate boundaries for multiple-alternative decisions," Nature Communications, Nature, vol. 13(1), pages 1-15, December.
    2. Hensher,David A. & Rose,John M. & Greene,William H., 2015. "Applied Choice Analysis," Cambridge Books, Cambridge University Press, number 9781107465923, November.
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