A Theoretical Framework for Goal-Based Choice and For Prescriptive Analysis

This paper extends the familiar multi-stage framework for choice by explicitly describing the role that goals play at each stage. We first present a typology of goals, ranging from content to process and from immediate to long-term illustrating it in the context of two examples—purchasing a new car and earthquake retrofitting. We then delineate each stage of the choice process based on recent advances from the descriptive literature on the influence of the various goals. Finally, we draw the prescriptive implications as to how goals can inform what we know, or need to know, about the choice process