Independence of Irrelevant Decisions in Stochastic Choice

Fedor Sandomirskiy, Po Hyun Sung, Omer Tamuz and Ben Wincelberg

Papers from arXiv.org

Abstract: We investigate stochasticity in choice behavior across diverse decisions. Each decision is modeled as a menu of actions with associated outcomes, and a stochastic choice rule assigns probabilities to actions based on the outcome profile. We characterize rules whose predictions are not affected by whether or not additional, irrelevant decisions are included in the model. Our main result is that such rules form the parametric family of mixed-logit rules.

Date: 2023-12, Revised 2025-05
New Economics Papers: this item is included in nep-dcm and nep-upt
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