The Development of Distinct Choice Process Segments over Time: A Stochastic Modeling Approach

Abstract

This paper examines Howard's (1963) typology dividing decision making into extensive problem solving (ESP), limited problem solving (LSP), and routinized response behavior (RRB). Specifically, the amount of information accessed in a longitudinal experiment is studied. Information acquisition is modeled stochastically at the individual level, and the existence of two segments (LSP and RRB) is tested in a nested-model framework.