On min-stable horse races with infinitely many horses (Q1184364)

A random reaction time model [see \textit{A. A. J. Marley}, Br. J. Math. Stat. Psychol. 42, No. 1, 13-36 (1989; Zbl 0718.62256)] for finitely many alternatives is extended to choice with infinitely many alternatives. It is assumed that the space of alternatives \(T\) is compact and metric. Preferences for alternatives are represented by a random function. An individual selects an alternative that achieves the minima of the random function over the space of alternatives. The choice reaction time is also defined and studied. In Section 2 the general model is described with reaction time functions as random elements of the space of lower semicontinuous functions on \(T\), denoted by \(LS(T)\). It is shown that the set \(L\) of alternatives is a random closed set. Section 3 focuses on the min-stable model and defines the measure on \(LS(T)\) which generates this class of processes. The spectral representation is given and the path properties of the reaction time process are discussed. The distribution theory for \(L\) is developed in Section 4. Necessary and sufficient conditions are given for min- stable processes to have paths that have unique minima. In Section 5, the choice reaction times independent of \(L\) are characterized and two examples are given in the final section.