Pairwise normalization: a neuroeconomic theory of multi-attribute choice

DOI10.1016/j.jet.2021.105221zbMath1461.91173OpenAlexW3132788963WikidataQ127601999 ScholiaQ127601999MaRDI QIDQ2025016

Ryan Webb, Peter Landry

Publication date: 11 May 2021

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2021.105221

zbMATH Keywords

neuroeconomicsconsumer theorymulti-attribute choicedecoy effects

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42) Psychophysics and psychophysiology; perception (91E30)

Related Items (5)

Price signaling with salient-thinking consumers ⋮ A test of attribute normalization via a double decoy effect ⋮ A comparison of regret theory and salience theory for decisions under risk ⋮ The attraction effect and its explanations ⋮ Value computation and modulation: a neuroeconomic theory of self-control as constrained optimization

Cites Work

• Theory of decisions by intra-dimensional comparisons
• Context dependent probabilistic choice models based on measures of binary advantage
• Axioms for the Boltzmann distribution
• The attraction effect and its explanations
• Choice by elimination
• Reason-based choice: A bargaining rationale for the attraction and compromise effects
• Context-Dependent Preferences
• A Model of Focusing in Economic Choice*
• Normalization is a general neural mechanism for context-dependent decision making

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