Binary single-crossing random utility models

Henrik Petri

doi:10.1016/j.geb.2022.12.011

Binary single-crossing random utility models

Henrik Petri

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Abstract

We characterize the single-crossing random utility model (SCRUM) (Apesteguia et al. (2017)) restricted to the (experimentally and empirically) important domain of binary choice menus. As corollaries we characterize some important subclasses of SCRUM (such as single-peaked and single-dipped random utility models) on this domain. In doing so, we address instances of the (still unsolved) binary random utility problem, which asks under what conditions there is a random utility model consistent with data from binary menus.

Original language	English
Pages (from-to)	311-320
Number of pages	10
Journal	Games and Economic Behavior
Volume	138
Early online date	23 Feb 2023
DOIs	https://doi.org/10.1016/j.geb.2022.12.011
Publication status	Published - 31 Mar 2023

Keywords

Binary choice menus
Single-crossing property
Single-dipped preferences
Single-peaked preferences
Stochastic choice
Stochastic transitivity

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.geb.2022.12.011Licence: CC BY

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AB - We characterize the single-crossing random utility model (SCRUM) (Apesteguia et al. (2017)) restricted to the (experimentally and empirically) important domain of binary choice menus. As corollaries we characterize some important subclasses of SCRUM (such as single-peaked and single-dipped random utility models) on this domain. In doing so, we address instances of the (still unsolved) binary random utility problem, which asks under what conditions there is a random utility model consistent with data from binary menus.

KW - Binary choice menus

KW - Single-crossing property

KW - Single-dipped preferences

KW - Single-peaked preferences

KW - Stochastic choice

KW - Stochastic transitivity

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VL - 138

SP - 311

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JO - Games and Economic Behavior

JF - Games and Economic Behavior

ER -

Binary single-crossing random utility models

Abstract

Keywords

ASJC Scopus subject areas

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