Revealed Stochastic Preference: A One-Paragraph Proof and Generalization

Jörg Stoye

Papers from arXiv.org

Abstract: McFadden and Richter (1991) and later McFadden (2005) show that the Axiom of Revealed Stochastic Preference characterizes rationalizability of choice probabilities through random utility models on finite universal choice spaces. This note proves the result in one short, elementary paragraph and extends it to set valued choice. The latter requires a different axiom than is reported in McFadden (2005).

Date: 2018-10, Revised 2019-02
New Economics Papers: this item is included in nep-upt
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Published in Economics Letters, 177, pp 66-68, 2019

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Journal Article: Revealed Stochastic Preference: A one-paragraph proof and generalization (2019)
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