Measuring Stochastic Rationality †

[2303.08202] Measuring Stochastic Rationality - arXiv

Our goal is to develop a partial ordering method for comparing stochastic choice functions on the basis of their individual rationality.

Measuring Stochastic Rationality - arXiv

Keywords: Stochastic choice, rationality, incomplete preferences, stochastic transitivity, random utility, the Luce model, the tremble model, ...

[PDF] Measuring Stochastic Rationality - Semantic Scholar

Our goal is to develop a partial ordering method for comparing stochastic choice functions on the basis of their individual rationality.

Measuring Stochastic Rationality - IDEAS/RePEc

To this end, we assign to any stochastic choice function a one-parameter class of deterministic choice correspondences, and then check for the rationality (in ...

Measuring Stochastic Rationality | Request PDF - ResearchGate

Request PDF | Measuring Stochastic Rationality | We develop a partial ordering approach toward comparing stochastic choice functions on the ...

Testing Stochastic Rationality and Predicting Stochastic Demand

Measuring the Price Responsiveness of Gasoline Demand: Economic Shape Restrictions and Nonparametric Demand. Estimation. Quantitative Economics, ...

Deliberately Stochastic | Penn Economics

Theorem 1. A stochastic choice function ρ satisfies Rational Mixing if and only if it admits a Deliberate Stochastic Choice representation. A Deliberate ...

Non-rationalizable individuals and stochastic ... - ScienceDirect.com

Stochastic rationality can be examined by looking a mixtures of demand types. ... Stochastic revealed preferences with measurement error. Rev. Econom. Stud ...

Stochastic Choice Theory - Harvard University

(2018): “Rational expectation of mistakes and a measure of error-proneness,”. Theoretical Economics, 13(2), 527–552. 24, 169. Ke, T., and M ...

Testing stochastic rationality and normality of demand with ...

▷ Measuring welfare effects associated with changing prices and/or incomes requires predicting demand in counterfactual price-income ...

Mini-course on Stochastic Choice - Kellogg School of Management

(1964): “Measurement structures and linear inequalities,” Journal of mathematical psychology, 1(2), 233–247. Sims, C. A. (2003): “Implications of rational ...

Computing and comparing measures of rationality - EconStor

Especially, our simulation-based comparison suggests a new type of rationality measure that combines measures capturing the size of rationality violations with ...

'Regular' Choice and the Weak Axiom of Stochastic Revealed ...

generalized stochastic version of this rationality postulate, the weak axiom of stochastic revealed ... measure q defined over the class of all subsets of ...

(PDF) Testing Stochastic Rationality and Predicting ... - ResearchGate

this the rationalizability question. ... bution of demand on an as yet unobserved budget? This will be called the prediction question. Prediction ...

Regular random choice and the triangle inequalities - ScienceDirect

Stochastic choice behavior is customarily modeled as a system of choice probabilities (Falmagne, 1978) specifying, for every subset S of a relevant universe of ...

Notes on stochastic choice | SpringerLink

Keywords. Probability Measure · Half Space · Inversion Formula · Choice Probability · Indifference Curve. These ...

2023-2 Dynamic and Stochastic Rational Behavior

Measuring rationality with the minimum cost of revealed preference violations. Review of Economics and Statistics, 98 (3), 524–534. 1. Deb, R ...

Deliberately Stochastic - University of Pennsylvania

then q ∈ co(Ak) implies q ≯FOSD ρ(A1). Rational Mixing is related to conditions of rationality and acyclicity typical in the literature on revealed preference ...

Lectures on Stochastic Choice - Harvard University

Marschak (1959): “Experimental Tests of Stochastic. Decision Theory,” in Measurement Definitions and Theories, ed. ... Richter (1990): “Stochastic rationality and ...

Testing stochastic rationality and predicting stochastic demand

Bounds on counterfactual distributions of demand, and parameters thereof, follow. A striking finding is that any rationalizable collection of cross-sectional ...