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Attribute processing as a behavioural strategy in choice making

In: Handbook of Choice Modelling

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  • David Hensher

Abstract

Choice modelling is an increasingly important technique for forecasting and valuation, with applications in fields such as transportation, health and environmental economics. For this reason it has attracted attention from leading academics and practitioners and methods have advanced substantially in recent years. This Handbook, composed of contributions from senior figures in the field, summarises the essential analytical techniques and discusses the key current research issues. It will be of interest to academics, students and practitioners in a wide range of areas.

Suggested Citation

  • David Hensher, 2014. "Attribute processing as a behavioural strategy in choice making," Chapters,in: Handbook of Choice Modelling, chapter 12, pages 268-289 Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:14820_12
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    File URL: https://www.elgaronline.com/view/9781781003145.00019.xml
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    References listed on IDEAS

    as
    1. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, Oxford University Press, vol. 69(1), pages 99-118.
    2. David Hensher & William Greene, 2010. "Non-attendance and dual processing of common-metric attributes in choice analysis: a latent class specification," Empirical Economics, Springer, vol. 39(2), pages 413-426, October.
    3. Michael Lockwood, 1996. "Non‐Compensatory Preference Structures In Non‐Market Valuation Of Natural Area Policy," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 40(2), pages 85-101, August.
    4. DeShazo, J. R., 2002. "Designing Transactions without Framing Effects in Iterative Question Formats," Journal of Environmental Economics and Management, Elsevier, vol. 43(3), pages 360-385, May.
    5. Danny Campbell & David A. Hensher & Riccardo Scarpa, 2011. "Non-attendance to attributes in environmental choice analysis: a latent class specification," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 54(8), pages 1061-1076, December.
    6. Hensher, David A. & Rose, John & Bertoia, Tony, 2007. "The implications on willingness to pay of a stochastic treatment of attribute processing in stated choice studies," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(2), pages 73-89, March.
    7. Stephane Hess & Amanda Stathopoulos & Danny Campbell & Vikki O’Neill & Sebastian Caussade, 2013. "It’s not that I don’t care, I just don’t care very much: confounding between attribute non-attendance and taste heterogeneity," Transportation, Springer, vol. 40(3), pages 583-607, May.
    8. Lockwood, Michael, 1996. "Non-Compensatory Preference Structures In Non-Market Valuation Of Natural Area Policy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 40(02), August.
    9. Cantillo, Víctor & Heydecker, Benjamin & de Dios Ortúzar, Juan, 2006. "A discrete choice model incorporating thresholds for perception in attribute values," Transportation Research Part B: Methodological, Elsevier, vol. 40(9), pages 807-825, November.
    10. Hole, Arne Risa, 2011. "A discrete choice model with endogenous attribute attendance," Economics Letters, Elsevier, vol. 110(3), pages 203-205, March.
    11. Beharry-Borg, Nesha & Scarpa, Riccardo, 2010. "Valuing quality changes in Caribbean coastal waters for heterogeneous beach visitors," Ecological Economics, Elsevier, vol. 69(5), pages 1124-1139, March.
    12. David A. Hensher, 2008. "Joint Estimation of Process and Outcome in Choice Experiments and Implications for Willingness to Pay," Journal of Transport Economics and Policy, University of Bath, vol. 42(2), pages 297-322, May.
    13. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    14. William H. Greene & David A. Hensher, 2013. "Revealing additional dimensions of preference heterogeneity in a latent class mixed multinomial logit model," Applied Economics, Taylor & Francis Journals, vol. 45(14), pages 1897-1902, May.
    15. Stephane Hess & David Hensher, 2013. "Making use of respondent reported processing information to understand attribute importance: a latent variable scaling approach," Transportation, Springer, vol. 40(2), pages 397-412, February.
    16. David Hensher & John Rose & William Greene, 2005. "The implications on willingness to pay of respondents ignoring specific attributes," Transportation, Springer, vol. 32(3), pages 203-222, May.
    17. David Hensher & David Layton, 2010. "Parameter transfer of common-metric attributes in choice analysis: implications for willingness to pay," Transportation, Springer, vol. 37(3), pages 473-490, May.
    18. Riccardo Scarpa & Mara Thiene & David A. Hensher, 2010. "Monitoring Choice Task Attribute Attendance in Nonmarket Valuation of Multiple Park Management Services: Does It Matter?," Land Economics, University of Wisconsin Press, vol. 86(4), pages 817-839.
    19. Waiyan Leong & David Alan Hensher, 2012. "Embedding Decision Heuristics in Discrete Choice Models: A Review," Transport Reviews, Taylor & Francis Journals, vol. 32(3), pages 313-331, February.
    20. William H. Greene & David A. Hensher, 2010. "Ordered Choices and Heterogeneity in Attribute Processing," Journal of Transport Economics and Policy, University of Bath, vol. 44(3), pages 331-364, September.
    21. Swait, Joffre, 2001. "A non-compensatory choice model incorporating attribute cutoffs," Transportation Research Part B: Methodological, Elsevier, vol. 35(10), pages 903-928, November.
    22. David Hensher & John Rose & William Greene, 2012. "Inferring attribute non-attendance from stated choice data: implications for willingness to pay estimates and a warning for stated choice experiment design," Transportation, Springer, vol. 39(2), pages 235-245, March.
    23. David A. Hensher & John M. Rose, 2012. "The Influence of Alternative Acceptability, Attribute Thresholds and Choice Response Certainty on Automobile Purchase Preferences," Journal of Transport Economics and Policy, University of Bath, vol. 46(3), pages 451-468, September.
    24. Ben McNair & David Hensher & Jeff Bennett, 2012. "Modelling Heterogeneity in Response Behaviour Towards a Sequence of Discrete Choice Questions: A Probabilistic Decision Process Model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 51(4), pages 599-616, April.
    25. Daniel McFadden, 2001. "Economic Choices," American Economic Review, American Economic Association, vol. 91(3), pages 351-378, June.
    26. Hess, Stephane & Hensher, David A., 2010. "Using conditioning on observed choices to retrieve individual-specific attribute processing strategies," Transportation Research Part B: Methodological, Elsevier, vol. 44(6), pages 781-790, July.
    27. Angel Bujosa & Antoni Riera & Robert Hicks, 2010. "Combining Discrete and Continuous Representations of Preference Heterogeneity: A Latent Class Approach," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 47(4), pages 477-493, December.
    28. Dan Rigby & Mike Burton, 2006. "Modeling Disinterest and Dislike: A Bounded Bayesian Mixed Logit Model of the UK Market for GM Food," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 33(4), pages 485-509, April.
    29. Mika Rekola, 2003. "Lexicographic Preferences in Contingent Valuation: A Theoretical Framework with Illustrations," Land Economics, University of Wisconsin Press, vol. 79(2), pages 277-291.
    30. Riccardo Scarpa & Raffaele Zanoli & Viola Bruschi & Simona Naspetti, 2013. "Inferred and Stated Attribute Non-attendance in Food Choice Experiments," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(1), pages 165-180.
    31. Riccardo Scarpa & Timothy J. Gilbride & Danny Campbell & David A. Hensher, 2009. "Modelling attribute non-attendance in choice experiments for rural landscape valuation," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 36(2), pages 151-174, June.
    32. David Hensher & Andrew Collins & William Greene, 2013. "Accounting for attribute non-attendance and common-metric aggregation in a probabilistic decision process mixed multinomial logit model: a warning on potential confounding," Transportation, Springer, vol. 40(5), pages 1003-1020, September.
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    Cited by:

    1. Fosgerau, Mogens & Börjesson, Maria, 2015. "Manipulating a stated choice experiment," Journal of choice modelling, Elsevier, vol. 16(C), pages 43-49.
    2. Hensher, David A. & Ho, Chinh, 2015. "The role of perceived acceptability of alternatives in identifying and assessing choice set processing strategies in stated choice settings: The case of road pricing reform," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 83(C), pages 225-237.
    3. repec:eee:transb:v:101:y:2017:i:c:p:72-88 is not listed on IDEAS
    4. repec:eee:transa:v:111:y:2018:i:c:p:316-325 is not listed on IDEAS
    5. repec:eee:transe:v:106:y:2017:i:c:p:160-177 is not listed on IDEAS

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