scholarly journals Individual Choice Behavior A Theoretical Analysis.

1961 ◽  
Vol 56 (293) ◽  
pp. 172 ◽  
Author(s):  
Patrick Suppes ◽  
R. Duncan Luce
Keyword(s):  
Theoretical Analysis ◽  
Choice Behavior ◽  
Individual Choice

Constrained Minimum Discrimination Information: A Unifying Tool for Modeling Spatial and Individual Choice Behavior

1982 ◽  
Vol 14 (10) ◽  
pp. 1341-1354 ◽  
Author(s):  
K E Haynes ◽  
F Y Phillips
Keyword(s):  
Choice Behavior ◽  
Applied Research ◽  
Probabilistic Models ◽  
Estimation Methods ◽  
Regression Estimation ◽  
Individual Choice ◽  
Wide Range ◽  
Alternative Hypotheses ◽  
Discrimination Information ◽  
Minimum Discrimination Information

Mathematical programming and statistical inference are combined in a constrained minimum discrimination information (MDI) method to provide a basis for a wide range of spatial and individual choice behavior problems. This approach offers an alternative to linear and loglinear regression estimation methods as well as probabilistic models of the logit and probit variety. Some logical and computational difficulties inherent in these approaches are resolved. Further, the approach leads endogenously to alternative hypotheses if the null hypothesis is rejected, and hence has implications for the interaction between research that is oriented toward theory construction and applied research that is empirically oriented.

Tracking Card Plays in a Card Game Biased by “Marked Cards”

1964 ◽  
Vol 15 (2) ◽  
pp. 627-634
Author(s):  
Eugene Linker ◽  
Bruce M. Ross
Keyword(s):  
Game Theory ◽  
Boundary Conditions ◽  
Choice Behavior ◽  
A Priori ◽  
Individual Choice ◽  
Card Game

The experiment is concerned with individual choice-behavior in resolving discrepancies in a three-choice card game between long-term (a priori) probabilities and immediate outcomes maximally biased by E‘s use of “marked” cards. S's ability to track changes in outcomes was indicated by within-condition card play strategy. Despite S‘s ability to track outcome changes, results show S's choice-behavior is only partially affected by immediate outcomes as maximal bias does not repeal the control exerted by long-term probabilities. The discussion considers the appropriateness of explanations derived from game theory in characterizing choice-behavior. It is suggested that game theory predicts boundary conditions for card play use rather than a normative strategy.

Is Individual Choice Less Problematic than Collective Choice?

1991 ◽  
Vol 7 (2) ◽  
pp. 143-165 ◽  
Author(s):  
Gregory S. Kavka
Keyword(s):  
Rational Choice ◽  
Linear Transformation ◽  
Expected Utility ◽  
Choice Behavior ◽  
Collective Choice ◽  
Individual Choice ◽  
Social Scientists ◽  
Von Neumann ◽  
Utility Scale

It is commonplace to suppose that the theory of individual rational choice is considerably less problematic than the theory of collective rational choice. In particular, it is often assumed by philosophers, economists, and other social scientists that an individual's choices among outcomes (or lotteries yielding specified probabilities of outcomes) accurately reflect that individual's underlying preferences or values. Further, it is now well known that if an individual's choices among outcomes (or lotteries thereof) satisfy certain plausible axioms of rationality or consistency, that individual's choice-behavior can be interpreted as maximizing expected utility on a utility scale that is unique up to a linear transformation (Ramsey, 1931; Savage, 1954; Von Neumann and Morgenstern, 1944). Hence, there is, in principle, an empirically respectable method of measuring individuals' values and a single unified schema for explaining their actions as value maximizing (insofar as they act rationally).

scholarly journals Efek Pemikatan (Attraction Effect) dan Bias Status Quo Sebuah Eksperimen dalam Perilaku Pengambilan Keputusan Portofolio Keuangan

2021 ◽  
Vol 8 (2) ◽  
pp. 215-224
Author(s):  
Bayu Laksma Pradana
Keyword(s):  
Experimental Observation ◽  
Reference Point ◽  
Choice Behavior ◽  
Rational Choice Theory ◽  
Choice Theory ◽  
Status Quo ◽  
Attraction Effect ◽  
Individual Choice ◽  
Decoy Effect ◽  
The Status

The reference dependent preference plays a significant role in individual choice behavior. Introducing a third option which is asymmetrical dominated to the dominating option can influence one’s decision. The status quo, endowment and attraction or decoy effect are the main noises. Such noises are  proof to counter the rational choice theory. This paper tries to observe the status quo and decoy effect. Existence of those two effects are examined in experimental observation with 32 respondents. Questionnaires are set for  respondents to dig information about how their answers contain choices. Two and three varies alternatives are presented to see  respondent choice feedback when a third inferior alternative is available. The result shows respondent tendency to switch options when status quo becomes a  reference point.

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