Alós-Ferrer, Carlos; Fehr, Ernst; Garagnani, Michele - 2022 - This version: July 2nd, 2022
violations reflect nontransitive preferences. These violations cannot be accounted for by any noise or utility specification … within the universe of random utility models. Finally, in spite of revealed transitivity violations, preferences estimated … through our method predict choices out of sample better than standard parametric random-utility estimations. …