Revealed preference domains from random choice

Kremena Valkanova

Games and Economic Behavior, 2024, vol. 147, issue C, 288-304

Abstract: Ordinal random utility models (RUMs) are based on the presumption that fluctuating preferences drive stochastic choices. We study a novel property of RUM subclasses called exclusiveness, satisfied whenever the supports of all RUM representations of stochastic choice data, rationalizable by a RUM over preferences within a specific domain, also belong to that domain. We demonstrate that well-known preference domains such as the single-peaked, single-dipped, triple-wise value-restricted and peak-monotone are RUM-exclusive, alongside a novel domain we term peak-pit on a line. Building on existing characterization results, we show how these preference domains can be directly revealed from stochastic choice data, without the need to compute all RUM representations.

Keywords: Random utility model; Stochastic choice; Single-peaked preferences; Single-dipped preferences; Value-restriction (search for similar items in EconPapers)
JEL-codes: D00 D01 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:147:y:2024:i:c:p:288-304

DOI: 10.1016/j.geb.2024.08.001

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