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Published March 22, 2016 | Accepted Version
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The Perception-Adjusted Luce Model


We develop an axiomatic model that builds on Luce's (1959) model to incorporate a role for perception. We identify agents' "perception priorities" from their violations of Luce's axiom of independence from irrelevant alternatives. Using such perception priorities, we adjust choice probabilities to account for the effects of perception. Our axiomatization requires that the agents' adjusted random choice conforms to Luce's model. Our model can explain the attraction, compromise, and similarity effects, which are very well-documented behavioral phenomena in individual choice.

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October 2013.

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August 22, 2023
January 13, 2024