ON CHOICE PROBABILITY
Keywords:
Probability,
choice model,
decision,
utility,
individual data,
group data,
scalabilitv,
preference
1975 Volume 2 Issue 2 Pages 13-31
Details
1975 Volume 2 Issue 2 Pages 13-31
Two models concerning with choice probability were reviewed: one by Luce and the other by Tversky. Traditionally, application of this type of choice models has been limited to choices repeated by respective individuals. Hence, discussion was focussed upon the basic postulates of the models and the applicability to pooled data over a population of individuals. With regard to the Luce's model, it was pointed out that the scale obtainable from the model that successfully predicts the choice probabilities can not be the variable representing magnitude of sensory intensity or of preference. With regard to the Tversky's model, its strategic implications in campaign were discussed in detail and an empirical study was referred to.
