Odds supermodularity and the Luce rule

• 成果类型: Article
• 署名作者: Dogan, Serhat; Yildiz, Kemal
• 署名单位: Ihsan Dogramaci Bilkent University
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2021.01.008
• 发表日期: 2021
• 页码: 443-452
• 关键词: Random choice; Luce rule; supermodularity; Zero probability choices; Stochastic path independence

摘要

We present a characterization of the Luce rule in terms of positivity and a new choice axiom called odds supermodularity that strengthens the regularity axiom. This new characterization illuminates a connection that goes unnoticed, and sheds light on the behavioral underpinnings of the Luce rule and its extensions from a different perspective. We show that odds supermodularity per se characterizes a structured extension of the Luce rule that accommodates zero probability choices. We identify the random choice model characterized via a stochastic counterpart of Plott (1973)'s path independence axiom, which strengthens odds supermodularity. (C) 2021 Elsevier Inc. All rights reserved.