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pro vyhledávání: '"Random utility models"'
Autor:
Keffert, Henk, Schweizer, Nikolaus
When it comes to structural estimation of risk preferences from data on choices, random utility models have long been one of the standard research tools in economics. A recent literature has challenged these models, pointing out some concerning monot
Externí odkaz:
http://arxiv.org/abs/2409.00704
At the core of most random utility models (RUMs) is an individual agent with a random utility component following a largest extreme value Type I (LEVI) distribution. What if, instead, the random component follows its mirror image -- the smallest extr
Externí odkaz:
http://arxiv.org/abs/2405.08222
In the evolving landscape of digital commerce, adaptive dynamic pricing strategies are essential for gaining a competitive edge. This paper introduces novel {\em doubly nonparametric random utility models} that eschew traditional parametric assumptio
Externí odkaz:
http://arxiv.org/abs/2405.06866
Autor:
Youmbi, Wilfried
The Random Utility Model (RUM) is the gold standard in describing the behavior of a population of consumers. The RUM operates under the assumption of transitivity in consumers' preference relationships, but the empirical literature has regularly docu
Externí odkaz:
http://arxiv.org/abs/2406.13969
Autor:
Caliari, Daniele, Petri, Henrik
We show that the set of aggregate choices of a population of rational decision-makers - random utility models (RUMs) - can be represented by a population of irrational ones if, and only if, their preferences are sufficiently uncorrelated. We call thi
Externí odkaz:
http://arxiv.org/abs/2403.10208
Autor:
Koida, Nobuo, Shirai, Koji
This paper develops a novel characterization for random utility models (RUM), which turns out to be a dual representation of the characterization by Kitamura and Stoye (2018, ECMA). For a given family of budgets and its "patch" representation \'a la
Externí odkaz:
http://arxiv.org/abs/2403.04328
Autor:
Salvadé, Nicolas, Hillel, Tim
This paper introduces the RUMBoost model, a novel discrete choice modelling approach that combines the interpretability and behavioural robustness of Random Utility Models (RUMs) with the generalisation and predictive ability of deep learning methods
Externí odkaz:
http://arxiv.org/abs/2401.11954
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Autor:
Turansick, Christopher
We readdress the problem of nonparametric statistical testing of random utility models proposed in Kitamura and Stoye (2018). Although their test is elegant, it is subject to computational constraints which leaves execution of the test infeasible in
Externí odkaz:
http://arxiv.org/abs/2303.14249
Autor:
Kashaev, Nail, Aguiar, Victor H.
We study a dynamic generalization of stochastic rationality in consumer behavior, the Dynamic Random Utility Model (DRUM). Under DRUM, a consumer draws a utility function from a stochastic utility process and maximizes this utility subject to her bud
Externí odkaz:
http://arxiv.org/abs/2204.07220