The random utility model with an infinite choice space
This essay presents a measure-theoretic version of the random utility model with no substantive restrictions upon the choice space. The analysis is based upon DeFinetti' Coherency Axiom, which characterizes a set function as a finitely additive probability measure. The central result is the equivalence of the random utility maximization hypothesis and the coherency of the choice probabilities over all allowable constraint sets.
Year of publication: |
1997-11-09
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Authors: | Clark, Stephen A. |
Published in: |
Economic Theory. - Springer. - Vol. 7.1995, 1, p. 179-189
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Publisher: |
Springer |
Saved in:
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