A model of stochastic choice from lists

Yuhta Ishii (), Matthew Kovach and Levent Ülkü

Journal of Mathematical Economics, 2021, vol. 96, issue C

Abstract: We study stochastic choice from lists. All lists present the same set of alternatives albeit in different orders. Faced with a list, the decision maker makes her choice in two stages. In the first stage she searches through the list till she sees k alternatives. In the second stage she chooses from the alternatives she has seen. Both k and the choice rule governing her second stage behavior are random. We show that the underlying primitives of our model are revealed by the decision maker’s choice frequencies from lists. We characterize the model and two of its special cases. In the first special case the decision maker deterministically chooses the best observed alternative according to a given preference. In the second, the decision maker maximizes random preferences.

Keywords: Stochastic choice; Random preference; Lists; Stochastic consideration (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:96:y:2021:i:c:s0304406821000598

DOI: 10.1016/j.jmateco.2021.102509

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