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A Behavioral Model of Rational Choice

✍ Scribed by Herbert A. Simon

Book ID
121413134
Publisher
MIT Press
Year
1955
Tongue
English
Weight
1007 KB
Volume
69
Category
Article
ISSN
0033-5533

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✍ Vanhonacker, Wilfried R. ;Winer, Russell S. πŸ“‚ Article πŸ“… 1990 πŸ› John Wiley and Sons 🌐 English βš– 752 KB

I n this paper, a multinomial-Dirichlet-geometric model of consumer brand choice is developed. This individual-level stochastic choice model is derived as an extension of Theil's theory of rational random behaviour. These behavioural assumptions permit modelling of changes in likelihood of purchase