Temporal stochastic inflation in choice-based research

We examine the specification and interpretation of discrete-choice models used in behavioral theory testing, with a focus on separating ‘coefficient scale’ from ‘error scale,’ particularly over time. Numerous issues raised in the thoughtful commentaries of Louviere and Swait (2010) and Hutchinson, Zauberman, and Meyer (HZM) (2010) are addressed, specifically the roles of response scaling, preference covariates, actual versus hypothetical consumption, ‘immediacy,’ and heterogeneity, as well as key differences between the experimental setup in Salisbury and Feinberg (2010) and those typifying intertemporal choice and construal level theory. We strongly concur with most of the general conclusions put forth by the commentary authors, but we also emphasize a central point made in our research that may have been lost: that the temporal inflation effects observed in our empirical analysis could be attributed to stochastic effects, deterministic influences, or an amalgam; appropriate inferences depend on the nature of one's data and stimuli. We also report on further analyses of our data, as well as a meta-analysis of HZM's Table 1 that is consistent with our original findings. Implications for, and dimensions relevant to, future research on temporal stochastic inflation and its role in choice-based research are discussed.