## Abstract In a typical probability learning task participants are presented with a repeated choice between two response alternatives, one of which has a higher payoff probability than the other. Rational choice theory requires that participants should eventually allocate all their responses to th
A re-examination of melioration and rational choice
β Scribed by Richard J. Tunney; David R. Shanks
- Publisher
- John Wiley and Sons
- Year
- 2002
- Tongue
- English
- Weight
- 225 KB
- Volume
- 15
- Category
- Article
- ISSN
- 0894-3257
- DOI
- 10.1002/bdm.415
No coin nor oath required. For personal study only.
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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
## Abstract In a recent examination of the integrated nature of inflation, Culver and Papell (__Journal of Applied Econometrics__, 1997) applied a range of unit root and stationarity tests to data from a panel of 13 OECD economies. The results obtained were mixed. While little evidence of stationar