Aguiar, Victor H.; Boccardi, Maria Jose; Kashaev, Nail; … - In: Quantitative economics : QE ; journal of the … 14 (2023) 1, pp. 71-116
The random utility model (RUM, McFadden and Richter (1990)) has been the standard tool to describe the behavior of a population of decision makers. RUM assumes that decision makers behave as if they maximize a rational preference over a choice set. This assumption may fail when consideration of...
