Maximizing Utility or Avoiding Losses? Uncovering Decision Rule-Heterogeneity in Sociological Research with an Application to Neighbourhood Choice

Empirical studies on individual behaviour often, implicitly or explicitly, assume a single type of decision rule. Other studies do not specify behavioural assumptions at all. We advance sociological research by introducing (random) regret minimization, which is related to loss aversion, into the sociological literature and by testing it against ...