VAMP (Voting Agent Model of Preferences): A computational model of individual multi-attribute choice

Abstract

This paper proposes an original account of decision anomalies and a computational alternative to existing dynamic models of multi-attribute choice. To date, most models attempting to account for the “Big Three” decision anomalies (similarity, attraction, and compromise effects) are variants of evidence accumulation models, or rational Bayesian analysis. This paper provides an existence proof of a new approach in the form of a multi-agent system based on the principles of voting geometry. Assuming there are a number of neural systems (agents) within an individual’s brain, the Big Three decision anomalies can arise as a natural consequence of aggregating preferences across these agents. We operationalize these principles in VAMP, (Voting Agent Model of Preferences), and compare its performance to existing computational models as well as to empirical data. This provides a fundamentally different lens for understanding decision anomalies in multi-attribute choice.