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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...
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Public infrastructure is one of the important determinants of economic growth. Not only access to but also quality of infrastructure affects firm productivity as well as people's livelihood. Frequent interruptions of the infrastructure-service supply impose extra backup costs on enterprises,...
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