Logistic analysis of choice data: A primer

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Abstract

Logistic regressions were developed in economics to model individual choice behavior. In recent years, they have become an important tool in decision neuroscience. Here, I describe and discuss different logistic models, emphasizing the underlying assumptions and possible interpretations. Logistic models may be used to quantify a variety of behavioral traits, including the relative subjective value of different goods, the choice accuracy, risk attitudes, and choice biases. More complex logistic models can be used for choices between good bundles, in cases of nonlinear value functions, and for choices between multiple options. Finally, logistic models can quantify the explanatory power of neuronal activity on choices, thus providing a valid alternative to receiver operating characteristic (ROC) analyses.

Original languageEnglish
Pages (from-to)1615-1630
Number of pages16
JournalNeuron
Volume110
Issue number10
DOIs
StatePublished - May 18 2022

Keywords

  • behavioral economics
  • choice biases
  • choice variability
  • decision making
  • neuroeconomics
  • subjective value

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