A choice set is a finite collection of available options selected from a larger theoretical decision space. For example, a consumer has thousands of conceivable alternatives when purchasing a car, far more than they could reasonably be expected to evaluate.
A choice set is a finite collection of available options selected from a larger theoretical decision space. For example, a consumer has thousands of conceivable alternatives when purchasing a car, far more than they could reasonably be expected to evaluate.
Source: Wikipedia "Choice set" · CC BY-SA 4.0
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