Law of demand and stochastic choice

DOI10.1007/S11238-021-09844-XMaRDI QIDQ2125241zbMATH OpenOpenAlexFDO

Authors Fabio Maccheroni, Massimo Marinacci, Aldo Rustichini, Simone Cerreia-Vioglio

Publication date 13 April 2022

Published in Theory and Decision (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1007/s11238-021-09844-x

zbMATH Keywords

law of demandLuce choice axiom

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42)

Recommendations

• Stochastic revealed preference and the theory of demand
• The Law of Demand and Risk Aversion
• `Regular' choice and the weak axiom of stochastic revealed preference
• Revealed preference with stochastic demand correspondence
• Random choice as behavioral optimization

Cites work

• A canon of probabilistic rationality
• A sparsity-based model of bounded rationality
• scientific article; zbMATH DE number 3152611 (Why is no real title available?)
• Independence of Irrelevant Alternatives and Revealed Group Preferences
• Microeconomic theory
• On a new axiomatic theory of probability
• Stochastic revealed preference and the theory of demand
• The choice axiom after twenty years

Cited in

(13)

• Stochastic revealed preference and the theory of demand
• Consumer equilibrium, random choice and hemi-Bayesian revision rule
• A canon of probabilistic rationality
• The Luce model with replicas
• Lotteries and the law of demand
• Random choice as behavioral optimization
• On path independent stochastic choice
• Stochastic modelling of consumer's diminishing return
• Pigou's law and the proportionality of income and price elasticities of demand
• The Law of Demand and Risk Aversion
• The Alchian-Allen theorem and the law of relative demand: the case of multiple quality-differentiable brands
• An economist and a psychologist form a line: what can imperfect perception of length tell us about stochastic choice?
• Stochastic demand correspondences and their aggregation properties

This page was built for publication: Law of demand and stochastic choice

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2125241)