The Decision-Conflict Logit

Georgios Gerasimou

Papers from arXiv.org

Abstract: We introduce the *decision-conflict logit*, a simple and disciplined extension of the logit with an outside option that assigns a menu-dependent utility to that option. The relative value of this utility at a menu could be interpreted as proxying decision difficulty and determines the probability of avoiding/delaying choice at that menu. We focus on two structured special cases of this model that offer complementary insights, and argue that they explain intuitively a variety of observed choice-deferral effects. We illustrate the models' applicability in theoretical and empirical economics.

Date: 2020-08, Revised 2022-08
New Economics Papers: this item is included in nep-dcm and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://arxiv.org/pdf/2008.04229 Latest version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2008.04229

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().