Applied Choice Analysis: Unraveling the Complexities of Human Choice

Applied Choice Analysis

by David A. Hensher

4.3 out of 5

Language	:	English
File size	:	40932 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Print length	:	1217 pages
X-Ray for textbooks	:	Enabled

FREE

Human choice is a fascinating and complex phenomenon that has captivated the minds of philosophers, psychologists, and economists for centuries. Understanding the intricate processes that underpin our decisions is crucial for a wide range of disciplines, from marketing and transportation planning to public policy and healthcare.

Applied Choice Analysis, a seminal work by renowned transportation economist David Hensher, provides a comprehensive and accessible guide to the theory, methods, and applications of choice analysis. This groundbreaking book offers invaluable insights for researchers, practitioners, and decision-makers seeking to unravel the complexities of human choice.

Theoretical Foundations

Applied Choice Analysis delves into the fundamental principles of choice behavior, drawing upon theories from economics, psychology, and cognitive science. Hensher presents a rigorous yet accessible framework for understanding the factors that influence individual choices, including:

• Preferences: The underlying desires and values that shape our choices
• Constraints: The limitations and boundaries that restrict our options
• Information: The knowledge and data we possess about the available choices
• Context: The social, environmental, and cultural factors that influence our decisions

Hensher emphasizes the importance of integrating these diverse perspectives to gain a holistic understanding of choice behavior. He argues that choice analysis should not be confined to a single theoretical paradigm but rather should draw upon the strengths of multiple disciplines to provide a comprehensive account of human decision-making.

Methodological Innovations

Applied Choice Analysis is not only a theoretical treatise but also a practical guide to conducting choice analysis studies. Hensher introduces a range of innovative methodological techniques, including:

• Discrete choice models: Statistical models that analyze individual choices from a set of discrete alternatives
• Latent class models: Models that identify unobserved groups of individuals with similar choice patterns
• Mixed logit models: Models that account for heterogeneity in preferences and choice behavior across individuals
• Attribute-based models: Models that decompose choice decisions into the relative importance of different product or service attributes

Hensher provides detailed explanations of these methods, along with practical examples and case studies to illustrate their application in various fields.

Applications in Diverse Fields

The versatility of Applied Choice Analysis extends beyond the realm of transportation planning, where it has its origins. Hensher demonstrates the broad applicability of choice analysis in a wide range of disciplines, including:

• Marketing: Understanding consumer preferences and predicting market demand
• Public policy: Evaluating the effectiveness of policy interventions and designing programs that align with public preferences
• Healthcare: Analyzing patient preferences for medical treatments and improving healthcare outcomes
• Environmental economics: Valuing environmental goods and services and designing sustainable policies

By providing a comprehensive framework and practical tools for choice analysis, Applied Choice Analysis empowers researchers and practitioners to address complex decision-making problems across a diverse range of fields.

David Hensher's Applied Choice Analysis is a tour de force in the field of decision-making research. Its comprehensive theoretical framework, innovative methodological techniques, and wide-ranging applications make it an indispensable resource for anyone seeking to understand the complexities of human choice.

Whether you are a researcher, practitioner, or policymaker, Applied Choice Analysis will provide you with the tools and insights you need to unravel the mysteries of human behavior and make informed decisions that shape the world around us.

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Applied Choice Analysis

by David A. Hensher

4.3 out of 5

Language	:	English
File size	:	40932 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Print length	:	1217 pages
X-Ray for textbooks	:	Enabled

FREE