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Single-Crossing Random Utility Models

Jose Apesteguia and Miguel Ballester ()

No 891, Working Papers from Barcelona Graduate School of Economics

Abstract: We propose a novel model of stochastic choice: the single-crossing random utility model (SCRUM). This is a random utility model in which the collection of utility functions satisfies the single-crossing property. We offer a characterization of SCRUMs based on three easy-to-check properties: Positivity, Monotonicity and Centrality. The identified collection of utility functions and associated probabilities is basically unique. We establish a stochastic monotone comparative result for the case of SCRUMs and study several generalizations of SCRUMs.

Keywords: stochastic choice; single-crossing property; random utility models; monotone comparative statics (search for similar items in EconPapers)
JEL-codes: D00 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm, nep-mic and nep-upt
Date: 2016-03
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Working Paper: Single-crossing random utility models (2016) Downloads
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