Related papers: Heterogeneity in General Multinomial Choice Models

Dynamic heterogeneity has often been modeled by assuming that a single-particle observable, fluctuating at a molecular scale, is influenced by its coupling to environmental variables fluctuating on a second, perhaps slower, time scale.…

Can stated preferences help in counterfactual analyses of actual choice? This research proposes a novel approach to researchers who have access to both stated choices in hypothetical scenarios and actual choices. The key idea is to use…

Democracies employ elections at various scales to select officials at the corresponding levels of administration. The geographical distribution of political opinion, the policy issues delegated to each level, and the multilevel interactions…

Dynamic logit models are popular tools in economics to measure state dependence. This paper introduces a new method to derive moment restrictions in a large class of such models with strictly exogenous regressors and fixed effects. We…

Agent-based models of residential segregation have been of persistent interest to various research communities since their origin with James Sakoda and popularization by Thomas Schelling. Frequently, these models have sought to elucidate…

Non-linear maps can possess various dynamical behaviors varying from stable steady states and cycles to chaotic oscillations. Most models assume that individuals within a given population are identical ignoring the fundamental role of…

We develop a dynamic model of discrete choice that incorporates peer effects into random consideration sets. We characterize the equilibrium behavior and study the empirical content of the model. In our setup, changes in the choices of…

Many multiagent systems in the real world include multiple types of agents with different abilities and functionality. Such heterogeneous multiagent systems have significant practical advantages. However, they also come with challenges…

We propose and investigate different kinetic models for opinion formation, when the opinion formation process depends on an additional independent variable, e.g. a leadership or a spatial variable. More specifically, we consider:(i) opinion…

Economic choices are often stochastic: the same person may make a different choice when facing the same alternatives repeatedly. Standard models assume that the degree of randomness reflects the size of utility differences, but choice…

Large-scale data are often characterized by some degree of inhomogeneity as data are either recorded in different time regimes or taken from multiple sources. We look at regression models and the effect of randomly changing coefficients,…

Motivated by empirical research on bias and opinion formation, we formulate a multidimensional nonlinear opinion-dynamical model where agents have individual biases, which are fixed, as well as opinions, which evolve. The dimensions…

Agent-based models provide a constructive approach to studying emergent dynamics in life-like systems composed of interacting, adaptive agents. Financial markets serve as a canonical example of such systems, where collective price dynamics…

Homophily based on observables is widespread in networks. Therefore, homophily based on unobservables (fixed effects) is also likely to be an important determinant of the interaction outcomes. Failing to properly account for latent…

We consider different choice procedures such as scoring rules, rules, using majority relation, value function and tournament matrix, which are used in social and multi-criteria choice problems. We focus on the study of the properties that…

Standard high-dimensional factor models assume that the comovements in a large set of variables could be modeled using a small number of latent factors that affect all variables. In many relevant applications in economics and finance,…

Recent experiments in adult mammalian tissues have found scaling relations of the voter model in the dynamics of the genetically labeled population of stem cells. Yet, the reason for this seemingly robust appearance of the voter model…

We propose a new analytical method to study stochastic, binary-state models on complex networks. Moving beyond the usual mean-field theories, this alternative approach is based on the introduction of an annealed approximation for…

For a binary choice problem, the spatial coordination of decisions in an agent community is investigated both analytically and by means of stochastic computer simulations. The individual decisions are based on different local information…

Choice modeling has been a central topic in the study of individual preference or utility across many fields including economics, marketing, operations research, and psychology. While the vast majority of the literature on choice models has…