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Process and context in choice models |
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| Authors: | Moshe Ben-Akiva André de Palma Daniel McFadden Maya Abou-Zeid Pierre-André Chiappori Matthieu de Lapparent Steven N. Durlauf Mogens Fosgerau Daisuke Fukuda Stephane Hess Charles Manski Ariel Pakes Nathalie Picard Joan Walker |
| Affiliation: | 1. Massachusetts Institute of Technology, 77 Massachusetts Avenue, Cambridge, MA, 02139, USA 2. Ecole Normale Sup??rieure de Cachan, 61 avenue du pr??sident Wilson, Cachan, 94235, France 3. University of California at Berkeley, 508-1 Evans Hall #3880, Berkeley, CA, 94720, USA 4. American University of Beirut, P.O.Box 11-0236, Riad El-Solh, Beirut, 1107 2020, Lebanon 5. Columbia University, 1009A International Affairs Building, MC 3308, 420 West 118th Street, New York, NY, 10027, USA 6. Institut Fran?ais des Sciences et Technologies des Transports, de l??Am??nagement et des R??seaux, 2 rue de la Butte Verte, Noisy-le-Grand Cedex, 93166, France 7. Department of Economics, University of Wisconsin-Madison, 1180 Observatory Drive, Madison, WI, 53706, USA 8. Technical University of Denmark, Bygningstorvet 116 Vest 2800 DK-Kgs, Lyngby, Denmark 9. Tokyo Institute of Technology, 2-12-1-M1-11 Ookayama, Meguro-ku, 1528552, Tokyo, Japan 10. Institute for Transport Studies, University of Leeds, Leeds, LS2 9JT, UK 11. Northwestern University, 2001 Sheridan Road, Evanston, IL, 60208, USA 12. Department of Economics, Harvard University, Room 117 Littauer Center, Cambridge, MA, 02138, USA 13. Universit?? de Cergy-Pontoise, Thema, 33 Boulevard du Port, 95011, Cergy-Pontoise Cedex, France 14. University of California at Berkeley, 111 McLaughlin Hall, Berkeley, CA, 94720, USA |
| Abstract: | 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. |
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