Understanding and predicting consumer decision-making via discrete choice experiments has long relied on random utility models (RUMs). However, these models often struggle to account for various contextual influences on decision-making, leading to non-unified adjustments. In response, our article proposes a new model rooted in rational inattention theory. It considers how individuals process information and make choices based on limited cognitive resources, shedding light on context-dependent behaviors that challenge established RUMs.
