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Associative Networks in Decision Making

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  • Jiangtao Li
  • Rui Tang
  • Mu Zhang

Abstract

We present a model of associative networks that captures how decision makers expand their consideration set through mental associations between alternatives. Our model provides a tractable approach to study how associations shape choice when some alternatives are available and others are merely observable but unavailable. We characterize the model within a random attention framework and demonstrate unique identification of all parameters. This framework delivers a unified account of several prominent choice anomalies, including classic menu effects and their ``phantom'' counterparts. We illustrate how associative links serve as a strategic variable in applications such as branding, imitation, and platform design.

Suggested Citation

  • Jiangtao Li & Rui Tang & Mu Zhang, 2026. "Associative Networks in Decision Making," Papers 2608.09739, arXiv.org.
    • Handle: RePEc:arx:papers:2608.09739
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    File URL: https://arxiv.org/pdf/2608.09739
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