A hybrid solution measuring two ways of decision behavior simultaneously

This article looks at the comparison between two approaches to consumer decision behaviour - the utility model (RUM) and Random Regret Modeling (RRM) - and offers a hybrid solution to provide a more effective framework.

Human decision behavior is highly complex and can be influenced by a wide variety of factors. Researchers typically try to simplify consumer preferences and choices. We try to replicate a complex reality using a model that captures the main drivers o

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