The random utility model with an infinite choice space

Stephen A. Clark
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Stephen A. Clark: Department of Statistics, University of Kentucky, Lexington, KY 40506, USA

Economic Theory, 1995, vol. 7, issue 1, 179-189

Abstract: This essay presents a measure-theoretic version of the random utility model with no substantive restrictions upon the choice space. The analysis is based upon DeFinetti' Coherency Axiom, which characterizes a set function as a finitely additive probability measure. The central result is the equivalence of the random utility maximization hypothesis and the coherency of the choice probabilities over all allowable constraint sets.

Date: 1997-11-09
Note: Received: July 7, 1992; revised version January 17, 1994
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