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We also reviewed random preference models including two new probabilistic formulations of Cumulative Prospect Theory: Random. We illustrated how a simple lexicographic heuristic was rejected on (almost) every data set (even at the modal choice level). A full model selection framework, however, will require further refinements, such as Bayesian extensions, for example.
Likewise, work is under way to test theories on other domains, such as in intertemporal choice and probabilistic inference, using the same modeling and analysis framework.