HighlightsEstimate model with multiple decision process strategies and behavioural components.Individuals apply multiple decision process strategies simultaneously.Willingness to pay estimates lower when all behavioural components included.Approach provides richer understanding of individual choice behaviour.

    AbstractThis study integrates multiple decision process strategies (Attribute Non-Attendance and Value Learning) with risk attitudes, perceptual conditioning and overt experience, which, to the best of our knowledge, has not been done before. We propose a way to include multiple heuristics as an alternative to current dominant paradigms, which supports a behavioural view that more than one heuristic simultaneously is at play in attribute and alternative processing. Our results show that including multiple decision process strategies, and integrating of all these components, significantly improves the model’s performance and enhances our understanding of how preferences are made.


    Access

    Check access

    Check availability in my library

    Order at Subito €


    Export, share and cite



    Title :

    Integrating attribute non-attendance and value learning with risk attitudes and perceptual conditioning


    Contributors:


    Publication date :

    2016-11-07


    Size :

    20 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English