Testing for saliency-led choice behavior in discrete choice modeling: An application in the context of preferences towards nuclear energy in Italy

Date
2022-09
Authors
Contu, Davide
Strazzera, Elisabetta
Journal Title
Journal ISSN
Volume Title
Publisher
Elsevier Ltd
Abstract
This work proposes a discrete choice model that jointly accounts for heterogeneity in preferences and in decision making procedures adopted by respondents, as well as for non-linearities in the utility function, allowing for the potential effect of salient attributes in choice experiments. We present an innovative application in the context of preferences towards nuclear energy, with data obtained from a nationwide online survey conducted in Italy. Results show that most of the variation in the choice data is indeed due to heterogeneity in the decision process, where the saliency heuristic plays an important role. Furthermore, the proposed model provides more conservative monetary valuations as opposed to standard models, potentially leading to substantial differences in cost-benefit analysis. Implications for choice modeling practitioners are discussed, emphasizing the need to account for saliency effects when modeling the choice data. © 2022 Elsevier Ltd
Description
This work is not available in the CUD collection. The version of the scholarly record of this work is published in Journal of Choice Modelling (2022), available online at: https://doi.org/10.1016/j.jocm.2022.100370
Keywords
Discrete choice, Heuristics, LC-RPL model, Nuclear energy
Citation
Contu, D., & Strazzera, E. (2022). Testing for saliency-led choice behavior in discrete choice modeling: An application in the context of preferences towards nuclear energy in italy. Journal of Choice Modelling, 44 doi:10.1016/j.jocm.2022.100370
DOI