Assisting the decision making-A generalization of choice models to handle the binary choices

AIMS Mathematics

article

Muhammad Arshad¹  Salman A. Cheema¹  Juan L.G. Guirao²  Juan M. Sánchez²  Adrián Valverde² 

[1] Department of Applied Sciences, School of Science, National Textile University, Faisalabad;Department of Applied Mathematics and Statistics, Technical University of Cartagena, Hospital de Marina 30203-Cartagena;Nonlinear Analysis and Applied Mathematics ,(NAAM)-Research Group, Department of Mathematics, Faculty of Science, King Abdulaziz University

关键词: choice behaviors;    comparative models;    exponential family of distributions;    paired comparison;   

DOI  :  10.3934/math.2023159

学科分类：地球科学(综合)

来源: AIMS Press

【 摘 要 】

This research fundamentally aims at providing a generalized framework to assist the launch of paired comparison models while dealing with discrete binary choices. The purpose is served by exploiting the fundaments of the exponential family of distributions. The proposed generalization is proved to cater to seven paired comparison models as members of this newly developed mechanism. The legitimacy of the devised scheme is demonstrated through rigorous simulation-based investigation as well as keenly persuaded empirical evaluations. A detailed analysis, covering a wide range of parametric settings, through the launch of Gibbs Sampler—a notable extension of Markov Chain Monte Carlo methods, is conducted under the Bayesian paradigm. The outcomes of this research substantiate the legitimacy of the devised general structure by not only successfully retaining the preference ordering but also by staying consistent with the established theoretical framework of comparative models.

【 授权许可】

CC BY