Publication Type
Working Paper
Version
publishedVersion
Publication Date
9-2024
Abstract
We present a model of associative networks that captures how a decision maker expands her consideration set through mental associations between alternatives. This model serves as a tool to understand the influence of association on decision making. As a proof of concept, we characterize this model within a random attention framework and demonstrate that all the relevant parameters are uniquely identifiable. Notably, in a novel choice domain where not all observable alternatives are available, the presence of unavailable alternatives can affect the choice frequencies of other alternatives through association.
Keywords
associative network, random attention, consideration set, random choice, availability and observability
Discipline
Economic Theory
Research Areas
Economic Theory
First Page
1
Last Page
55
Citation
LI, Jiangtao; TANG, Rui; and ZHANG, Mu.
Associative networks in decision making. (2024). 1-55.
Available at: https://ink.library.smu.edu.sg/soe_research/2766
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.