IDEAS home Printed from https://ideas.repec.org/p/arx/papers/2305.03645.html
   My bibliography  Save this paper

Algorithmic Decision Processes

Author

Listed:
  • Carlo Baldassi
  • Fabio Maccheroni
  • Massimo Marinacci
  • Marco Pirazzini

Abstract

We develop a full-fledged analysis of an algorithmic decision process that, in a multialternative choice problem, produces computable choice probabilities and expected decision times.

Suggested Citation

  • Carlo Baldassi & Fabio Maccheroni & Massimo Marinacci & Marco Pirazzini, 2023. "Algorithmic Decision Processes," Papers 2305.03645, arXiv.org.
    • Handle: RePEc:arx:papers:2305.03645
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/2305.03645
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Elena Reutskaja & Rosemarie Nagel & Colin F. Camerer & Antonio Rangel, 2011. "Search Dynamics in Consumer Choice under Time Pressure: An Eye-Tracking Study," American Economic Review, American Economic Association, vol. 101(2), pages 900-926, April.
    2. Milica Milosavljevic & Jonathan Malmaud & Alexander Huth & Christof Koch & Antonio Rangel, 2010. "The Drift Diffusion Model can account for the accuracy and reaction time of value-based choices under high and low time pressure," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 5(6), pages 437-449, October.
    3. repec:cup:judgdm:v:5:y:2010:i:6:p:437-449 is not listed on IDEAS
    4. Carlo Baldassi & Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Marco Pirazzini, 2020. "A Behavioral Characterization of the Drift Diffusion Model and Its Multialternative Extension for Choice Under Time Pressure," Management Science, INFORMS, vol. 66(11), pages 5075-5093, November.
    5. Simon P. Anderson & Jacob K. Goeree & Charles A. Holt, 2004. "Noisy Directional Learning and the Logit Equilibrium," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(3), pages 581-602, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kremena Valkanova, 2024. "Markov Stochastic Choice," Papers 2410.22001, arXiv.org.
    2. S. Cerreia-Vioglio & F. Maccheroni & M. Marinacci & A. Rustichini, 2017. "Multinomial logit processes and preference discovery: inside and outside the black box," Working Papers 615, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    3. Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Aldo Rustichini, 2023. "Multinomial Logit Processes and Preference Discovery: Inside and Outside the Black Box," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(3), pages 1155-1194.
    4. Carlo Baldassi & Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci & Marco Pirazzini, 2020. "A Behavioral Characterization of the Drift Diffusion Model and Its Multialternative Extension for Choice Under Time Pressure," Management Science, INFORMS, vol. 66(11), pages 5075-5093, November.
    5. Simone Cerreia-Vioglio & Fabio Maccheroni & Massimo Marinacci, 2020. "Multinomial logit processes and preference discovery: outside and inside the black box," Working Papers 663, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    6. Chavez, Daniel E. & Palma, Marco A. & Nayga, Rodolfo M. & Mjelde, James W., 2020. "Product availability in discrete choice experiments with private goods," Journal of choice modelling, Elsevier, vol. 36(C).
    7. Andrew Caplin & Mark Dean & Daniel Martin, 2011. "Search and Satisficing," American Economic Review, American Economic Association, vol. 101(7), pages 2899-2922, December.
    8. Jhunjhunwala, Tanushree, 2021. "Searching to avoid regret: An experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 298-319.
    9. Zhang, Boyu & Hofbauer, Josef, 2016. "Quantal response methods for equilibrium selection in 2×2 coordination games," Games and Economic Behavior, Elsevier, vol. 97(C), pages 19-31.
    10. Jennifer Kee & Melinda Knuth & Joanna N Lahey & Marco A Palma, 2021. "Does eye-tracking have an effect on economic behavior?," PLOS ONE, Public Library of Science, vol. 16(8), pages 1-25, August.
    11. Karagözoğlu, Emin & Keskin, Kerim, 2024. "Consideration sets and reference points in a dynamic bargaining game," Journal of Economic Behavior & Organization, Elsevier, vol. 219(C), pages 381-403.
    12. Daniele Cassese & Paolo Pin, 2025. "Decentralized pure exchange processes on networks," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 64(3), pages 427-463, May.
    13. David Stadelmann & Benno Torgler, 2012. "Bounded Rationality and Voting Decisions Exploring a 160-Year Period," Working Papers 2012.70, Fondazione Eni Enrico Mattei.
    14. Kashaev, Nail & Aguiar, Victor H., 2022. "A random attention and utility model," Journal of Economic Theory, Elsevier, vol. 204(C).
    15. Jean-François Laslier & Bernard Walliser, 2015. "Stubborn learning," Theory and Decision, Springer, vol. 79(1), pages 51-93, July.
    16. Chen, Ming & Burke, Raymond R. & Hui, Sam K. & Leykin, Alex, 2024. "Understanding shoppers’ attention to price information at the point of consideration using in-store ambulatory eye-tracking," Journal of Retailing, Elsevier, vol. 100(3), pages 439-455.
    17. Matthew P. Taylor, 2017. "Information Acquisition Under Risky Conditions Across Real And Hypothetical Settings," Economic Inquiry, Western Economic Association International, vol. 55(1), pages 352-367, January.
    18. Ellen J Van Loo & Carola Grebitus & Rodolfo M Nayga & Wim Verbeke & Jutta Roosen, 2018. "On the Measurement of Consumer Preferences and Food Choice Behavior: The Relation Between Visual Attention and Choices," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 40(4), pages 538-562, December.
    19. Ran, Tao & Yue, Chengyan & Rihn, Alicia, 2015. "Are Grocery Shoppers of Households with Weight-Concerned Members Willing to Pay More for Nutritional Information on Food?," Journal of Food Distribution Research, Food Distribution Research Society, vol. 46(3), pages 1-18, November.
    20. Pëllumb Reshidi & Alessandro Lizzeri & Leeat Yariv & Jimmy Chan & Wing Suen, 2021. "Individual and Collective Information Acquisition: An Experimental Study," CESifo Working Paper Series 9468, CESifo.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:2305.03645. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.