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Unraveling the Choice Format Effect: A Context-Dependent Random Utility Model

Unraveling the Choice Format Effect: A Context-Dependent Random Utility Model A few recent studies report that preferences elicited from a two-alternative choice format are different from those elicited from a three-alternative choice format, when both choice set designs contain a status quo option. We hypothesize that the choice format effect might disappear when we estimate a random utility model (RUM) that allows for context-dependent preferences. Based on the estimated context-dependent RUM, we find that the choice format effect is likely the result of two offsetting effects: a task complexity effect that increases the probability of choosing the status quo option, and a preference matching effect, which decreases the probability. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

Unraveling the Choice Format Effect: A Context-Dependent Random Utility Model

Land Economics , Volume 87 (4) – Apr 15, 2012

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Publisher
University of Wisconsin Press
Copyright
Copyright by the Board of Regents of the University of Wisconsin System.
ISSN
1543-8325

Abstract

A few recent studies report that preferences elicited from a two-alternative choice format are different from those elicited from a three-alternative choice format, when both choice set designs contain a status quo option. We hypothesize that the choice format effect might disappear when we estimate a random utility model (RUM) that allows for context-dependent preferences. Based on the estimated context-dependent RUM, we find that the choice format effect is likely the result of two offsetting effects: a task complexity effect that increases the probability of choosing the status quo option, and a preference matching effect, which decreases the probability.

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Apr 15, 2012

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