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Unique Random Utility Representations

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  • Morgan McClellon

Abstract

Random utility representations of stochastic choice data on a finite set of alternatives are not necessarily unique. In fact, failures of uniqueness are shown here to be widespread: any random utility function with full support is nonunique. To restore uniqueness this paper introduces a finite state space and considers random choice over Savage acts. A representation is characterized in which acts are chosen according to the probability that they are optimal in every state.

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  • Morgan McClellon, 2015. "Unique Random Utility Representations," Working Paper 262661, Harvard University OpenScholar.
    • Handle: RePEc:qsh:wpaper:262661
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    File URL: http://scholar.harvard.edu/mcclellon/node/262661
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    Cited by:

    1. McClellon, Morgan, 2016. "Confidence models of incomplete preferences," Mathematical Social Sciences, Elsevier, vol. 83(C), pages 30-34.
    2. Aguiar, Victor H. & Boccardi, Maria Jose & Dean, Mark, 2016. "Satisficing and stochastic choice," Journal of Economic Theory, Elsevier, vol. 166(C), pages 445-482.
    3. Sprumont, Yves, 0. "Randomized collective choices based on a fractional tournament," Theoretical Economics, Econometric Society.
    4. Turansick, Christopher, 2022. "Identification in the random utility model," Journal of Economic Theory, Elsevier, vol. 203(C).
    5. Jean-Paul Doignon & Kota Saito, 2022. "Adjacencies on random ordering polytopes and flow polytopes," Papers 2207.06925, arXiv.org.

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