The Luce model with replicas

• 成果类型: Article
• 署名作者: Faro, Jose Heleno
• 署名单位: Insper
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2022.105596
• 发表日期: 2023
• 关键词: Luce?s model; stochastic choice; Replicas; Duplicates problem; Similarity effect

摘要

We propose the notion of replicas in the context of discrete choices and introduce axioms that charac-terize the Luce model with replicas. This model does not fall prey to the well-known red bus-blue bus example originally proposed by Debreu (1960) and later made famous by McFadden. Our model satisfies regularity, strong stochastic transitivity, and is a random utility model. Due to its simplicity, this model is more parsimonious than others aimed at overcoming the duplicates problem.(c) 2022 Elsevier Inc. All rights reserved.