The modeling of preferences for multiattribute alternatives has received an increased attention in marketing (consumer behavior) and management science (decision analysis). The research in the two disciplines is closely related and can be applied to predicting consumer preferences for...

This paper draws from two separate research traditions in marketing theories of consumer behavior: multiattribute expectancy-value models and stochastic choice models. A behavioral basis for the observed brand-switching phenomenon is found in the multiattributed evaluation of alternatives and...

This paper draws on econometrics, von Neumann-Morgenstern utility theory, stochastic choice theory, and consumer behavior to develop five basic axioms or postulates of stochastic choice behavior. These axioms imply the existence and uniqueness of a preference function which identifies how...

This paper investigates the problem of combining ordinal preferences, expressed as priority vectors, to form a consensus. An axiomatic structure relating to the concept of distance between rankings is developed, uniqueness of the distance measure is proven and its form derived. Adopting the...

The effect of convex transactions costs on consumers' derived utility functions and on optimal consumption and investment decisions is examined in a general multiperiod framework. The extent to which multiperiod consumption-investment behavior and capital market equilibrium may be studied in a...

Food preference and utility measures are functionally related to the frequency and quantity of foods consumed within fixed time periods. The coefficients of these functions can be estimated by psychometric or econometric methods. Total preference or utility can be maximized subject to budgetary...

Traditional definitions of stochastic dominance assume that the decision agent's preference-or-indifference relation on outcomes of risky decisions is transitive. This paper proposes a stochastic dominance relation for the comparison of risky decisions that is applicable to any complete and...

A procedure is presented to evaluate the appropriateness of alternative methodologies for analyzing a specified problem. This procedure is illustrated by identifying desirable characteristics of nuclear power plant site selection methodologies and evaluating the adequacy of methodologies that...

This note describes a different approach to urban modelling, resulting in a new, more general form of model. The model can be used for prediction, prescription, explanation, or evaluation; or to distinguish between the objectives of individuals, the planning authority, and the community. It is...

This Note extends the work reported in Payne, Laughhunn, and Crum (Payne, J. W., D. J. Laughhunn, R. Crum. 1980. Translation of gambles and aspiration level effects in risky choice behavior. Management Sci. 26 1039--1060.) on the need to incorporate a target return, reference point, or...