Single‐Crossing Random Utility Models
Miguel A. Ballester and
Jay Lu ()
Econometrica, 2017, vol. 85, 661-674
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 preferences satisfies the single‐crossing property. We offer a characterization of SCRUMs based on two easy‐to‐check properties: the classic Monotonicity property and a novel condition, Centrality. The identified collection of preferences and associated probabilities is unique. We show that SCRUMs nest both single‐peaked and single‐dipped random utility models and establish a stochastic monotone comparative result for the case of SCRUMs.
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Persistent link: https://EconPapers.repec.org/RePEc:wly:emetrp:v:85:y:2017:i::p:661-674
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