This paper presents a dynamic choice model in the attribute space considering rational consumers that discount the future. In light of the evidence of several state-dependence patterns, the model is further extended by considering a utility function that allows for the different types of...

Recent increases in flexibility and automation in the production of goods and services allow a growing number of suppliers to offer their products in flexible sets of modules from which consumers can create their own individualized packages. This paper addresses the question how consumer choices...