Seminario Theory-Experimental

Yusufcan Masatlioglu

University of Maryland


webinar – 14:30


We introduce a new model of stochastic choice, the “Progressive Random Choice (PRC) model.” In a PRC model, the decision maker randomizes over a collection of choice functions which are ordered with respect to some reference order. A PRC representation identifies the collection of choices and associated probabilities uniquely. Moreover, it can explain a rich set of stochastic choices. We are particularly interested in PRC where each choice function satisfies a well-known bounded rationality structure, namely “less-is-more.” The characterization of less-is-more-PRC relies on two simple axioms: U-regularity and weak-regularity. We further show that the reference ordering can be endogenously derived in this class.

Bajar pdf
Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos requeridos están marcados *

Puedes usar las siguientes HTML etiquetas y atributos: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

borrar formularioEnviar

Este sitio usa Akismet para reducir el spam. Aprende cómo se procesan los datos de tus comentarios.