TY - JOUR
T1 - A model of stochastic choice from lists
AU - Ishii, Yuhta
AU - Kovach, Matthew
AU - Ülkü, Levent
N1 - Funding Information:
We thank the audience of the 2018 CIREQ Montreal Microeconomic Theory Conference: Foundations of Discrete Choice and anonymous referees for insightful comments. Levent Ülkü acknowledges financial support from the Asociación Mexicana de Cultura .
Publisher Copyright:
© 2021 Elsevier B.V.
PY - 2021/10
Y1 - 2021/10
N2 - We study stochastic choice from lists. All lists present the same set of alternatives albeit in different orders. Faced with a list, the decision maker makes her choice in two stages. In the first stage she searches through the list till she sees k alternatives. In the second stage she chooses from the alternatives she has seen. Both k and the choice rule governing her second stage behavior are random. We show that the underlying primitives of our model are revealed by the decision maker's choice frequencies from lists. We characterize the model and two of its special cases. In the first special case the decision maker deterministically chooses the best observed alternative according to a given preference. In the second, the decision maker maximizes random preferences.
AB - We study stochastic choice from lists. All lists present the same set of alternatives albeit in different orders. Faced with a list, the decision maker makes her choice in two stages. In the first stage she searches through the list till she sees k alternatives. In the second stage she chooses from the alternatives she has seen. Both k and the choice rule governing her second stage behavior are random. We show that the underlying primitives of our model are revealed by the decision maker's choice frequencies from lists. We characterize the model and two of its special cases. In the first special case the decision maker deterministically chooses the best observed alternative according to a given preference. In the second, the decision maker maximizes random preferences.
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U2 - 10.1016/j.jmateco.2021.102509
DO - 10.1016/j.jmateco.2021.102509
M3 - Article
AN - SCOPUS:85107140934
SN - 0304-4068
VL - 96
JO - Journal of Mathematical Economics
JF - Journal of Mathematical Economics
M1 - 102509
ER -