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作者：Ke, Shaowei
作者单位：University of Michigan System; University of Michigan
摘要：We characterize axiomatically a stochastic choice model, the consistent-mistakes model (CMM), that describes an error-prone decision maker's choices. In contrast to random utility models, CMMs generate closed-form choice probability. Under the axioms, we uniquely identify from the choices an expected utility function that represents the decision maker's true preference and a propensity function that describes how likely an alternative is to be chosen. We introduce a measure of error-proneness ...
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作者：Jonsson, Adam; Voorneveld, Mark
作者单位：Lulea University of Technology; Stockholm School of Economics
摘要：This paper presents an infinite-horizon version of intergenerational utilitarianism. By studying discounted utilitarianism as the discount factor tends to one, we obtain a new welfare criterion: limit-discounted utilitarianism (LDU). We show that LDU meets the standard assumptions of efficiency, equity, and interpersonal comparability, but allows us to compare more pairs of utility streams than commonly used utilitarian criteria, including the overtaking criterion and the catching-up criterion...
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作者：Che, Yeon-Koo; Tercieux, Olivier
作者单位：Columbia University; Paris School of Economics
摘要：We study Pareto efficient mechanisms in matching markets when the number of agents is large and individual preferences are randomly drawn from a class of distributions, allowing for both common and idiosyncratic shocks. We provide a broad set of circumstances under which, as the market grows large, all Pareto efficient mechanismsincluding top trading cycles (with an arbitrary ownership structure), serial dictatorship (with an arbitrary serial order), and their randomized variantsproduce a dist...
