The Random Utility Model with an Infinite Choice Space

Stephen A Clark

Economic Theory, 1996, vol. 7, issue 1, 179-89

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's 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: 1996
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