I propose and axiomatically characterize a multi-attribute stochastic choice model that simultaneously generalizes the standard model of deterministic choice and the Luce rule. Attributes are cardinal, independent measures of desirability that are endogenously inferred from observed choices, and...

In winner-take-all tournaments, agents' performance is determined jointly by effort and luck, and the top performer is rewarded. We study the impact of the ''shape of luck'' -- the details of the distribution of performance shocks -- on incentives in such settings. We are concerned with the...