Single-crossing random utility models
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 o↵er a characterization of SCRUMs based on two easy-to-check properties: the classic Monot...
| Main Authors: | , , |
|---|---|
| פורמט: | Journal article |
| יצא לאור: |
Econometric Society
2017
|
| _version_ | 1826275017621504000 |
|---|---|
| author | Ballester, M Apesteguia, J Lu, J |
| author_facet | Ballester, M Apesteguia, J Lu, J |
| author_sort | Ballester, M |
| collection | OXFORD |
| description | 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 o↵er 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. |
| first_indexed | 2024-03-06T22:52:18Z |
| format | Journal article |
| id | oxford-uuid:5f33a711-fde8-44df-975e-3fca493d9e4c |
| institution | University of Oxford |
| last_indexed | 2024-03-06T22:52:18Z |
| publishDate | 2017 |
| publisher | Econometric Society |
| record_format | dspace |
| spelling | oxford-uuid:5f33a711-fde8-44df-975e-3fca493d9e4c2022-03-26T17:45:23ZSingle-crossing random utility modelsJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:5f33a711-fde8-44df-975e-3fca493d9e4cSymplectic Elements at OxfordEconometric Society2017Ballester, MApesteguia, JLu, JWe 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 o↵er 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. |
| spellingShingle | Ballester, M Apesteguia, J Lu, J Single-crossing random utility models |
| title | Single-crossing random utility models |
| title_full | Single-crossing random utility models |
| title_fullStr | Single-crossing random utility models |
| title_full_unstemmed | Single-crossing random utility models |
| title_short | Single-crossing random utility models |
| title_sort | single crossing random utility models |
| work_keys_str_mv | AT ballesterm singlecrossingrandomutilitymodels AT apesteguiaj singlecrossingrandomutilitymodels AT luj singlecrossingrandomutilitymodels |