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We derive a family of probabilistic choice models including the multinomial logit model, from a microeconomic model in … alternatives. The present model also applies to continuum choice sets in Euclidean spaces, and provides a microeconomic foundation …
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We propose an extension of Tversky's lexicographic semiorder to a model of boundedly rational choice. We explore the … connection with sequential rationalisability of choice, and we provide axiomatic characterisations of both models in terms of … observable choice data. …
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