Ben-Akiva, M, de Palma, A, McFadden, D et al. (11 more authors) (2012) Process and context in choice models. Marketing Letters, 23 (2). 439 - 456. ISSN 0923-0645
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. © 2012 Springer Science+Business Media, LLC.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2012, Springer Verlag. This is an author produced version of a paper published in Marketing Letters. Uploaded in accordance with the publisher's self-archiving policy. The final publication is available at link.springer.com |
Keywords: | Decision making process; Context; Social networks; Econometric models; Subjective data |
Dates: |
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Institution: | The University of Leeds |
Depositing User: | Symplectic Publications |
Date Deposited: | 16 Dec 2013 12:44 |
Last Modified: | 15 Sep 2014 02:35 |
Published Version: | http://dx.doi.org/10.1007/s11002-012-9180-7 |
Status: | Published |
Publisher: | Springer Verlag |
Identification Number: | 10.1007/s11002-012-9180-7 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:77189 |