Random choice as behavioral optimization

DOI10.3982/ECTA10621zbMATH Open1419.91241OpenAlexW1935975802MaRDI QIDQ4615893FDOQ4615893

Paulo Natenzon, Wolfgang Pesendorfer, Faruk Gul

Publication date: 29 January 2019

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.3982/ecta10621

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zbMATH Keywords

random utilityLuce ruleattribute ruledynamic random choice

Mathematics Subject Classification ID

Decision theory (91B06) Individual preferences (91B08)

Cited In (31)

• A resolution of St. Petersburg paradox
• Selective attribute rules
• Luce arbitrates: stochastic resolution of inner conflicts
• Odds supermodularity and the Luce rule
• Stochastic semi-orders
• Cautious stochastic choice, optimal stopping and deliberate randomization
• Dual random utility maximisation
• The perception-adjusted Luce model
• Incomplete risk attitudes and random choice behavior: an elicitation mechanism
• Statistical testing of bounded rationality with applications to the newsvendor model
• A two-step guessing game
• From local utility to neural networks
• Title not available (Why is that?)
• General Luce model
• Irresolute choice behavior
• Correlated choice
• Satisficing and stochastic choice
• Stochastic choice with limited memory
• An active-learning Pareto evolutionary algorithm for parcel locker network design considering accessibility of customers
• Randomization vs. Selection: How to Choose in the Absence of Preference?
• Multiple-switching behavior in choice-list elicitation of risk preference
• An axiomatic foundation of conditional logit
• Perturbed utility and general equilibrium analysis
• Price optimization under the extended nested logit model
• Revealed stochastic choice with attributes
• The Luce model with replicas
• A characterization of the Luce choice rule for an arbitrary collection of menus
• Growing attention
• Hazard rate, stochastic choice and consideration sets
• Regret, responsibility, and randomization: a theory of stochastic choice
• Debreu's choice model

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