Utility maximizing and regret minimizing models (RUM and RRM respectively) assume different decision rules, and additionally that these rules are conceptually and mathematically distinguishable. Yet, studies that pit them against each other or incorporate them into a heterogeneous decision rule...

This paper develops new directions on how individuals' use of multiple goals can be incorporated in econometric models of individual decision making. We start by outlining key components of multiple, simultaneous goal pursuit and multi-stage choice. Since different goals are often only partially...