A Separability Foundation for Random Coefficients Logit
Fuente:
arXiv
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| Autores principales: | , , , |
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| Formato: | Preprint |
| Publicado: |
2023
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| Materias: | |
| Acceso en línea: | |
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| _version_ | 1866914568066826240 |
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| author | Sandomirskiy, Fedor Sung, Po Hyun Tamuz, Omer Wincelberg, Ben |
| author_facet | Sandomirskiy, Fedor Sung, Po Hyun Tamuz, Omer Wincelberg, Ben |
| contents | We study stochastic choice across decision problems, each represented as a menu of action labels paired with observable outcome vectors. We propose a consistency condition for behavior in decision problems composed of two separable components: choice probabilities must agree with those obtained when each component is considered in isolation. Together with monotonicity and continuity, this separability requirement characterizes the family of random coefficients logit rules. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2312_04827 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | A Separability Foundation for Random Coefficients Logit Sandomirskiy, Fedor Sung, Po Hyun Tamuz, Omer Wincelberg, Ben Theoretical Economics We study stochastic choice across decision problems, each represented as a menu of action labels paired with observable outcome vectors. We propose a consistency condition for behavior in decision problems composed of two separable components: choice probabilities must agree with those obtained when each component is considered in isolation. Together with monotonicity and continuity, this separability requirement characterizes the family of random coefficients logit rules. |
| title | A Separability Foundation for Random Coefficients Logit |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2312.04827 |