A Model of Stochastic Choice from Lists

We study stochastic choice from lists. All lists present the same set of alternatives albeit in different orders. Faced with a list, the decision maker makes her choice in two stages. In the first stage she searches through the list till she sees k alternatives. In the second stage she chooses from the alternatives she has seen. Both k and the choice rule governing her second stage behavior are random. We show that the underlying primitives of our model are revealed by the decision maker's choice frequencies from lists. We characterize the model and two of its special cases. In the first special case the decision maker deterministically chooses the best observed alternative according to a given preference. In the second, the decision maker maximizes random preferences.

© This manuscript version is made available under the CC-BY-NC-ND 4.0 license https://creativecommons.org/licenses/by-nc-nd/4.0/

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Work Title A Model of Stochastic Choice from Lists
Access
Open Access
Creators
  1. Yuhta Ishii
  2. Matthew Kovach
  3. Levent Ülkü
License CC BY-NC-ND 4.0 (Attribution-NonCommercial-NoDerivatives)
Work Type Article
Publisher
  1. Elsevier BV
Publication Date October 2021
Publisher Identifier (DOI)
  1. 10.1016/j.jmateco.2021.102509
Source
  1. Journal of Mathematical Economics
Deposited January 13, 2022

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