Consumer choice modelling seeks to elucidate how individuals make decisions when faced with multiple product or service alternatives. This field encompasses the study of cognitive processes and ...

Customer preferences may not be rational, so we focus on quantifying the limit of rationality (LoR) in choice modeling applications. We define LoR as the cost of approximating the observed choice ...

In a new study, researchers developed a model that helps online retailers to more accurately predict customer purchases from a wide range of products in complex online shopping environments, reducing ...

Adamowicz, Wiktor, David Bunch, Trudy Ann Cameron, Benedict G.C. Dellaert, Michael Hanneman, Michael Keane, Jordan Louviere, Robert Meyer, Thomas J. Steenburgh, and ...