… any static random utility model, regardless of the details of the agent's random utility function
(… Axiomatic analysis helps shed light on which behavior (eg, the “attraction effect”) this model …

… This property, called monotonicity, is satisfied by every random utility model, no matter
what distributional assumptions we make on U A , U B , and U C . In particular, neither …

… The most general form is known as the subjective expected utility (SEU) model. In it,
probabilities are treated as being subjective whereas worth is expressed in utility, a generalized …

… can be rationalized by random utility models. This is important … preference theory under
random utility models no longer hold … recommendations based on random utility models will be …

… generalized entropy is defined as the negative convex conjugate of the surplus function of an
additive random utility model (… of perturbed random utility models in terms of RI arguments. …

… utility function on the contingent consumption space. This is the most permissive utility model
… ) Theorem tells us that compatibility with utility maximization can be assessed by testing the …

… We show that in this model stochasticity in choice captures complementarity between …
This feature separates our approach from other models, eg, Random Utility. (JEL D80, D81) …

… Moreover, as the model matrix for random utility models has specific features, we add a
supplementary argument called pkg to the dfidx function so that the returned object has a specific …

We characterize when physical probabilities, marginal utilities, and the discount rate can be
recovered from observed state prices for several future time periods. We make no …

… (2017), that uses our generalized Luce model to study assortment optimization problems.
Assortment optimization is an important pricing problem studied in operations research. …