Understanding how systems relax to equilibrium is a core theme of statistical physics, especially in economics, where are known be subject extrinsic noise not included simple agent-based models. In models binary choice—ones much more complicated than Kirman’s model ant recruitment—such relaxation dynamics become difficult determine analytically and require solving three-term recurrence relation...

The emergence of Big Data has enabled new research perspectives in the discrete choice community. While techniques to estimate Machine Learning models on a massive amount data are well established, these have not yet been fully explored for estimation statistical Discrete Choice Models based random utility framework. In this article, we provide ways dealing with large datasets context Models. W...

While winner-take-all crowdsourcing contests are wide spread in practice, several researchers have observed that their social welfare can be poor due to effort exerted by contestants who are never rewarded. In this paper we study the problem of efficiency in winnertake-all crowdsourcing contests. Using a discrete choice model to capture contestants’ production qualities, we introduce a mechanis...

In this paper I propose new continuous and discrete choice demand models. To do so, I note that existing demand models from the continuousand discrete-choice demand literatures each have distinct advantages for taking to market-level data. I attempt to build models with the union of the good properties of each literature. For instance, the continuous choice models are more appropriate for disag...

Specifying utility functions is a key step towards applying the discrete choice framework for understanding behaviour processes that govern user choices. However, identifying function specifications best model and explain observed choices can be very challenging time-consuming task. This paper seeks to help modellers by leveraging Bayesian concept of automatic relevance determination (ARD), in ...

The random utility maximization model is by far the most adopted framework to estimate consumer choice behavior. However, behavioral economics has provided strong empirical evidence of irrational behaviors, such as halo effects, that are incompatible with this framework. Models belonging family may therefore not accurately capture Hence, more general models, overcoming limitations, have been pr...