We provide an introduction to the estimation of discrete choice models when choice sets are heterogeneous and unobserved to the econometrician. We survey the two most popular approaches: “integrating ...over” and “differencing out” unobserved choice sets. Inspired by Chamberlain (1980)’s original idea of constructing sufficient statistics from observed choices, we introduce the term “sufficient set” to refer to any combination of observed choices that lies within the true but unobserved choice set. The concept of sufficient set helps to unify notation and organize our thinking, to map econometric assumptions onto economic models, and to implement both methods in practice.
From fundamental concepts and results to recent advances in computational social choice, this open access book provides a thorough and in-depth look at multi-winner voting based on approval ...preferences. The main focus is on axiomatic analysis, algorithmic results and several applications that are relevant in artificial intelligence, computer science and elections of any kind. What is the best way to select a set of candidates for a shortlist, for an executive committee, or for product recommendations? Multi-winner voting is the process of selecting a fixed-size set of candidates based on the preferences expressed by the voters. A wide variety of decision processes in settings ranging from politics (parliamentary elections) to the design of modern computer applications (collaborative filtering, dynamic Q&A platforms, diversity in search results, etc.) share the problem of identifying a representative subset of alternatives. The study of multi-winner voting provides the principled analysis of this task. Approval-based committee voting rules (in short: ABC rules) are multi-winner voting rules particularly suitable for practical use. Their usability is founded on the straightforward form in which the voters can express preferences: voters simply have to differentiate between approved and disapproved candidates. Proposals for ABC rules are numerous, some dating back to the late 19th century while others have been introduced only very recently. This book explains and discusses these rules, highlighting their individual strengths and weaknesses. With the help of this book, the reader will be able to choose a suitable ABC voting rule in a principled fashion, participate in, and be up to date with the ongoing research on this topic.
Based on a series of pathbreaking lectures given at Yale University in 2012, this powerful, thought-provoking work by national best-selling author Cass R. Sunstein combines legal theory with ...behavioral economics to make a fresh argument about the legitimate scope of government, bearing on obesity, smoking, distracted driving, health care, food safety, and other highly volatile, high-profile public issues. Behavioral economists have established that people often make decisions that run counter to their best interests-producing what Sunstein describes as "behavioral market failures." Sometimes we disregard the long term; sometimes we are unrealistically optimistic; sometimes we do not see what is in front of us. With this evidence in mind, Sunstein argues for a new form of paternalism, one that protects people against serious errors but also recognizes the risk of government overreaching and usually preserves freedom of choice.Against those who reject paternalism of any kind, Sunstein shows that "choice architecture"-government-imposed structures that affect our choices-is inevitable, and hence that a form of paternalism cannot be avoided. He urges that there are profoundly moral reasons to ensure that choice architecture is helpful rather than harmful-and that it makes people's lives better and longer.
A laboratory experiment examines the effects of electronic word-of-mouth (e-WOM) on consumer consideration and choice of an experience product. Specifically, we manipulated the number of consumer ...recommendations and the optimality of the recommended product in a realistic online shopping environment. The results indicate that e-WOM is likely to result in more time considering the recommended product. For consumers more motivated to process information, e-WOM recommendations lead to more time spent on the choice task overall. Further, consumers with less motivation to process information make suboptimal decisions based on e-WOM recommendations. Consumers with a high motivation to process information are willing to accept recommendations and switch from declared attribute preferences, but choose only optimal products.
In this trailblazing book, leading educational expert David Shaffer examines how particular video and computer games can help teach kids to think like doctors, lawyers, engineers, urban planners, ...journalists and other professionals. Based on more than a decade of research in technology, game science, and education, this book revolutionizes how we think about education in the digital age. (DIPF/Orig.).
This study assesses the risk of being female in addition to the well-known factors of age and
apolipoprotein E
ε4 status in the development and progression of Alzheimer disease based on longitudinal ...brain atrophy, cognitive decline, and CSF markers.
APOE
ε4 accelerated rates of decline, especially in women. The gender effect was at least as important as
APOE
ε4 status and showed weaker relationships to CSF markers.
Many behaviors posing significant risks to public health are characterized by repeated decisions to forego better long-term outcomes in the face of immediate temptations. Steeply discounting the ...value of delayed outcomes often underlies a pattern of impulsive choice. Steep delay discounting is correlated with addictions (e.g., substance abuse, obesity) and behaviors such as seatbelt use and risky sexual activity. As evidence accumulates suggesting steep delay discounting plays a causal role in these maladaptive behaviors, researchers have begun testing methods for reducing discounting. In this first systematic and comprehensive review of this literature, the findings of 92 articles employing different methodologies to reduce discounting are evaluated narratively and meta-analytically. Although most of the methods reviewed produced significant reductions in discounting, they varied in effect sizes. Most methods were ideal for influencing one-off choices (e.g., framing and priming manipulations), although other successful manipulations, such as episodic future thinking, could be incorporated into existing therapies designed to produce longer-lasting changes in decision-making. The largest and longest-lasting effects were produced by learning-based manipulations, although translational research is needed to determine the generality and clinical utility of these methods. Methodological shortcomings in the existing literature and suggestions for ameliorating these issues are discussed. This review reveals a variety of methods with translational potential, which, through continued refinement, may prove effective in reducing impulsive choice and its associated maladaptive decisions that negatively impact quality of life.
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