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Psychological research and theories on preferential choice

In: Handbook of Choice Modelling

Author

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  • Jerome R. Busemeyer
  • Jörg Rieskamp

Abstract

Choice modelling is an increasingly important technique for forecasting and valuation, with applications in fields such as transportation, health and environmental economics. For this reason it has attracted attention from leading academics and practitioners and methods have advanced substantially in recent years. This Handbook, composed of contributions from senior figures in the field, summarises the essential analytical techniques and discusses the key current research issues. It will be of interest to academics, students and practitioners in a wide range of areas.

Suggested Citation

  • Jerome R. Busemeyer & Jörg Rieskamp, 2014. "Psychological research and theories on preferential choice," Chapters, in: Stephane Hess & Andrew Daly (ed.), Handbook of Choice Modelling, chapter 3, pages 49-72, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14820_3
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    References listed on IDEAS

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    1. Loomes, Graham & Moffatt, Peter G & Sugden, Robert, 2002. "A Microeconometric Test of Alternative Stochastic Theories of Risky Choice," Journal of Risk and Uncertainty, Springer, vol. 24(2), pages 103-130, March.
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    3. Jörg Rieskamp & Jerome R. Busemeyer & Barbara A. Mellers, 2006. "Extending the Bounds of Rationality: Evidence and Theories of Preferential Choice," Journal of Economic Literature, American Economic Association, vol. 44(3), pages 631-661, September.
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    7. Andreas Glöckner & Tilmann Betsch, 2008. "Modeling Option and Strategy Choices with Connectionist Networks: Towards an Integrative Model of Automatic and Deliberate Decision Making," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2008_02, Max Planck Institute for Research on Collective Goods.
    8. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555, September.
    9. Ariane Lambert Mogiliansky & Shmuel Zamir & Herve Zwirn, 2003. "Type Indeterminacy: A Model of the KT(Kahneman-Tversky)-man," Discussion Paper Series dp343, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    10. Ernst Fehr & Antonio Rangel, 2011. "Neuroeconomic Foundations of Economic Choice--Recent Advances," Journal of Economic Perspectives, American Economic Association, vol. 25(4), pages 3-30, Fall.
    11. repec:cup:judgdm:v:3:y:2008:i::p:215-228 is not listed on IDEAS
    12. Timothy B. Heath & Subimal Chatterjee, 1995. "Asymmetric Decoy Effects on Lower-Quality Versus Higher-Quality Brands: Meta-Analytic and Experimental Evidence," Post-Print hal-00670480, HAL.
    13. V. Yukalov & D. Sornette, 2011. "Decision theory with prospect interference and entanglement," Theory and Decision, Springer, vol. 70(3), pages 283-328, March.
    14. Huber, Joel & Puto, Christopher, 1983. "Market Boundaries and Product Choice: Illustrating Attraction and Substitution Effects," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 10(1), pages 31-44, June.
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    17. Heath, Timothy B & Chatterjee, Subimal, 1995. "Asymmetric Decoy Effects on Lower-Quality versus Higher-Quality Brands: Meta-analytic and Experimental Evidence," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 22(3), pages 268-284, December.
    18. Michael Birnbaum & Ulrich Schmidt, 2008. "An experimental investigation of violations of transitivity in choice under uncertainty," Journal of Risk and Uncertainty, Springer, vol. 37(1), pages 77-91, August.
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    20. Amos Tversky & Itamar Simonson, 1993. "Context-Dependent Preferences," Management Science, INFORMS, vol. 39(10), pages 1179-1189, October.
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    1. Szép, Teodóra & van Cranenburgh, Sander & Chorus, Caspar G., 2022. "Decision Field Theory: Equivalence with probit models and guidance for identifiability," Journal of choice modelling, Elsevier, vol. 45(C).

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