Search results for "Choice set"
showing 6 items of 6 documents
Optimal contract length for biodiversity conservation under conservation budget constraint
2014
We examine the optimal length of a contract period in a conservation program with payments for ecosystem services aiming at protecting biodiversity on privately owned forests. The government chooses the number of stands and the length of contracts so as to maximize biodiversity benefits under a binding conservation budget. We examine the implication of two alternative budgets: a separate budget for each period (periodic budget) or one budget that to be used in all periods (intertemporal budget). The impact of the budget type shows up in the fact that with intertemporal budget choice set is larger and more high quality stands are available for contracting. Based on theoretical characterizati…
The Role of the Brand on Choice Overload
2019
Current research on choice overload has been mainly conducted with choice options not associated with specific brands. This study investigates whether the presence of brand names in the choice set affects the occurrence of choice overload. Across four studies, we find that when choosing among an overabundance of alternatives, participants express more positive feelings (i.e., higher satisfaction/confidence, lower regret and difficulty) when all the options of the choice set are associated with familiar brands, rather than unfamiliar brands or no brand at all. We also find that choice overload only appears in the absence of brand names, but disappears when all options contain brand names—eit…
A computer program suitable for analysis of choice of categories in biomedical data recognition problems.
1980
The optimum choice of categories in problems of medical data recognition is governed by the choice of categories, the selection of appropriate features, and by the choice of a loss function. Under these circumstances it is often difficult to find out the suitable classification scheme. The computer program described here serves for the design of the optimum recognition procedure. The Bayes rule is used as decision rule. A criterion for the comparison of different choice of categories is given. The program can be performed after estimation of the underlying prior probabilities and the conditional densities obtained from a training set, and before testing the decision rule with real data.
An Optimized Design of Choice Experiments: A New Approach for Studying Decision Behavior in Choice Task Experiments
2014
In this paper, we present a new approach for the optimal experimental design problem of generating diagnostic choice tasks, where the respondent's decision strategy can be unambiguously deduced from the observed choice. In this new approach, we applied a genetic algorithm that creates a one-to-one correspondence between a set of predefined decision strategies and the alternatives of the choice task; it also manipulates the characteristics of the choice tasks. In addition, this new approach takes into account the measurement errors that can occur when the preferences of the decision makers are being measured. The proposed genetic algorithm is capable of generating diagnostic choice tasks eve…
The effect of choice complexity on perception of time spent choosing: When choice takes longer but feels shorter
2009
Two studies examine the effect of the complexity of the choice environment on the perceived duration of the time spent choosing. The experiments demonstrate that the estimation of the time spent making a decision is affected by the number of options available in the choice set. In Experiment 1, participants having to choose 1 of 24 mobile phones tended to underestimate the time spent whereas participants confronted with the choice of 6 mobile phones tended to overestimate the actual time spent. Experiment 2 corroborates this finding, in the presence of varying degrees of attribute correlation. We conclude with theoretical and practical implications for marketers. © 2009 Wiley Periodicals, I…