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Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
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consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and …
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models must honor. IID, IIA, MDPU and attribute correlation are also discussed.The logit model is analyzed first, and its … multiplicative error term. Finally a simple algorithm is proposed to deal with attribute correlation, based on correlation penalties … scaling approaches, together with the attribute correlation algorithm, are a promising way to go …
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