Choice context

Konstadinos G. Goulias and Ram M. Pendyala

Chapter 5 in Handbook of Choice Modelling, 2024, pp 117-146 from Edward Elgar Publishing

Abstract: This chapter provides a review of key aspects in framing of decision making problems that are often encountered in behavioral models used to build simulation model systems. Each of these behavioral models aims at capturing how people address one or more decision problems (e.g., where to live, what car to buy, where to go on vacation, how much time to spend with family). For each of these decision problems, context is important - but the elicitation methods employed also play important roles in understanding decision making. In this chapter, behavioral choice odelled is viewed in terms of the decision making context, framing, and elicitation or measurement methods used from a wider perspective. A few illustrative problems are examined in detail using sources from the literature and personal communications with key research authors to identify relevant decision makers (e.g., a household, a worker, a firm), behaviors and/or actions that are considered most relevant (e.g., go shopping with friends and use the bus), social/cultural and physical contexts of each decision making problem (e.g., belonging to a club), and the alternatives (assumed or elicited) considered by the odelled decision makers. The chapter concludes with a review of the elicitation methods that may be used to obtain information about context in choice behavior.

Keywords: Economics and Finance; Environment; Geography; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2024
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