Stochastic semi-orders

• 成果类型: Article
• 署名作者: Horan, Sean
• 署名单位: Universite de Montreal; Universite de Montreal
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2020.105171
• 发表日期: 2021
• 关键词: Just noticeable difference; Semi-order; Luce choice axiom; Strict utility model; Imperfect utility discrimination

摘要

In the late 1950's, Luce developed two theories of imperfect utility discrimination that have had a lasting effect on economics. The first (1956) initiated the literature on incomplete preferences while the second (1959) laid the foundations for the literature on discrete choice. I propose a general model of utility discrimination that unifies Luce's two theories while addressing the main limitations of each. I show that two conditions from Luce's (1959) monograph characterize behavior consistent with this model. (C) 2020 Elsevier Inc. All rights reserved.