Associative Networks in Decision Making

Jiangtao Li; Rui Tang; Mu Zhang

Associative Networks in Decision Making

Theoretical Economics 2026-08-10 v1

Authors: Jiangtao Li , Rui Tang , Mu Zhang

Abstract

We present a model of associative networks that captures how decision makers expand their consideration set through mental associations between alternatives. Our model provides a tractable approach to study how associations shape choice when some alternatives are available and others are merely observable but unavailable. We characterize the model within a random attention framework and demonstrate unique identification of all parameters. This framework delivers a unified account of several prominent choice anomalies, including classic menu effects and their ``phantom'' counterparts. We illustrate how associative links serve as a strategic variable in applications such as branding, imitation, and platform design.

Keywords

associative networks consideration sets random attention choice anomalies menu effects

Cite

@article{arxiv.2608.09739,
  title  = {Associative Networks in Decision Making},
  author = {Jiangtao Li and Rui Tang and Mu Zhang},
  journal= {arXiv preprint arXiv:2608.09739},
  year   = {2026}
}