RANDOM CHOICE AS BEHAVIORAL OPTIMIZATION
成果类型：
Article
署名作者：
Gul, Faruk; Natenzon, Paulo; Pesendorfer, Wolfgang
署名单位：
Princeton University; Washington University (WUSTL)
刊物名称：
ECONOMETRICA
ISSN/ISSBN：
0012-9682
DOI：
10.3982/ECTA10621
发表日期：
2014
页码：
1873-1912
关键词：
摘要：
We develop an extension of Luce's random choice model to study violations of the weak axiom of revealed preference. We introduce the notion of a stochastic preference and show that it implies the Luce model. Then, to address well-known difficulties of the Luce model, we define the attribute rule and establish that the existence of a well-defined stochastic preference over attributes characterizes it. We prove that the set of attribute rules and random utility maximizers are essentially the same. Finally, we show that both the Luce and attribute rules have a unique consistent extension to dynamic problems.vskip=-17.5pt]Author: please provide at least three Key Words that describe the article.
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