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01-12-2008

Behavioral frontiers in choice modeling

Authors: Wiktor Adamowicz, David Bunch, Trudy Ann Cameron, Benedict G. C. Dellaert, Michael Hanneman, Michael Keane, Jordan Louviere, Robert Meyer, Thomas Steenburgh, Joffre Swait

Published in: Marketing Letters | Issue 3-4/2008

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Abstract

We review the discussion at a workshop whose goal was to achieve a better integration among behavioral, economic, and statistical approaches to choice modeling. The workshop explored how current approaches to the specification, estimation, and application of choice models might be improved to better capture the diversity of processes that are postulated to explain how consumers make choices. Some specific challenges include how to capture and parsimoniously describe heterogeneous mixes of heuristic choice rules, methods for building realistic models of choice, and nontraditional methods for estimating models. An agenda for important future work in these areas is also proposed.

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A good deal of the discussion in this Workshop concerned ideas which have not yet made their way into published papers. One of the most valuable aspects of this Workshop was the opportunity to hear some of the details of what our colleagues were just beginning to think about, rather than limiting the discussion to research which has already navigated the publication process. To afford some minimal protection to each individual’s proprietary rights to these ideas, we quote unpublished ideas and general expert intuition with attribution, wherever possible (even though this may go against the conventions observed in more standard journal articles).

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Title: Behavioral frontiers in choice modeling
Authors: Wiktor Adamowicz
David Bunch
Trudy Ann Cameron
Benedict G. C. Dellaert
Michael Hanneman
Michael Keane
Jordan Louviere
Robert Meyer
Thomas Steenburgh
Joffre Swait
Publication date: 01-12-2008
Publisher: Springer US
Published in: Marketing Letters / Issue 3-4/2008
Print ISSN: 0923-0645
Electronic ISSN: 1573-059X
DOI: https://doi.org/10.1007/s11002-008-9038-1

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