Incorporating social interaction into hybrid choice models

Incorporating social interaction into hybrid choice models

The aim of this paper is to develop a methodological framework for the incorporation of social interaction effects into choice models. The developed method provides insights for modeling the effect of social interaction on the formation of psychological factors (latent variables) and on the decision-making process. The assumption is based on the fact that the way the decision maker anticipates ...

Incorporating Reality into Social Choice

When voting on a proposal one in fact chooses between two alternatives: (i) A new hypothetical social state depicted by the proposal and (ii) the status quo (henceforth: Reality); a Yes vote favors a transition to the proposed hypothetical state, while a No vote favors Reality. Social Choice theory generalizes voting on one proposal to ranking multiple proposals; that Reality was forsaken durin...

Incorporating Choice into Models of Technology Adoption

Research investigating technology adoption has assumed that the individual accepting the technology has only one technology in mind when making their adoption decision. Models such as the UTAUT, TAM, PCI assume that the decision whether or not to adopt the technology occurs within a bubble – there is no explicit understanding in these models that no other technologies exist outside of the one t...

Incorporating Resilience into Dynamic Social Models

A methodology for incorporating prior information into choice models

In this paper, we propose a method which facilitates the way a modeler or manager can include subjective information (such as judgment or intuition) into a choice model. The major contribution and focus of this research is on the way this prior information can be incorporated in a logit model. An important advantage of our approach is that, unlike the standard Bayesian approach, the prior infor...