Single-Crossing Random Utility Models
| Autor: | Jay Lu, Jose Apesteguia, Miguel A. Ballester |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
Economics and Econometrics
Mathematical optimization Property (programming) 05 social sciences Computer Science::Software Engineering Monotonic function Characterization (mathematics) Monotone polygon 0502 economics and business Economics Single peaked preferences Monotone comparative statics 050207 economics Centrality Mathematical economics Utility model 050205 econometrics |
| Zdroj: | Econometrica. 85:661-674 |
| ISSN: | 0012-9682 |
| DOI: | 10.3982/ecta14230 |
| Popis: | We propose a novel model of stochastic choice: the single-crossing random utility model (SCRUM). This is a random utility model in which the collection of preferences satisfies the single-crossing property. We offer a characterization of SCRUMs based on two easy-to-check properties: the classic Monotonicity property and a novel condition, Centrality. The identified collection of preferences and associated probabilities is unique. We show that SCRUMs nest both single-peaked and single-dipped random utility models and establish a stochastic monotone comparative result for the case of SCRUMs. |
| Databáze: | OpenAIRE |
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