Publications
Publications
- December 2008
- Marketing Letters
Behavioral Frontiers in Choice Modeling
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 non-traditional methods for estimating models. An agenda for important future work in these areas is also proposed.
Keywords
Mathematical Methods; Integration; Goals and Objectives; Decision Choices and Conditions; Problems and Challenges; Business Processes; Customers; Behavior; Economics
Citation
Adamowicz, Wiktor, David Bunch, Trudy Ann Cameron, Benedict G.C. Dellaert, Michael Hanneman, Michael Keane, Jordan Louviere, Robert Meyer, Thomas J. Steenburgh, and Joffre Swait. "Behavioral Frontiers in Choice Modeling." Marketing Letters 19, nos. 3/4 (December 2008): 215–219.