Deliberately Stochastic
Deliberately Stochastic
复制标题
故意随机
DOI:
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发表时间:
2017
期刊:
影响因子:
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通讯作者:
Gil Riella
中科院分区:
文献类型:
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作者:
S. Cerreia;David Dillenberger;Pietro Ortoleva;Gil Riella
We study stochastic choice as the outcome of deliberate randomization. We derive a general representation of a stochastic choice function where stochasticity allows the agent to achieve from any set the maximal element according to her underlying preferences over lotteries. We show that in this model stochasticity in choice captures complementarity between elements in the set, and thus necessarily implies violations of Regularity/Monotonicity, one of the most common properties of stochastic choice. This feature separates our approach from other models, e.g., Random Utility. (JEL D80, D81)
DOI:
10.3982/ecta10575
发表时间:
2012-10
期刊:
Econometrics: Multiple Equation Models eJournal
影响因子:
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作者:
Paola Manzini;M. Mariotti
通讯作者:
Paola Manzini;M. Mariotti