Showing 41 - 50 of 176
We extend and refine conditions for "Luce rationality" (i.e., the existence of a Luce - or logit - model) in the context of stochastic choice. When choice probabilities satisfy positivity, we show that the cyclical independence (CI) condition of Ahumada and Ulk¨u (2018) and Echenique and Saito...
Persistent link: https://www.econbiz.de/10014502399
The classical Luce model (Luce, 1959) assumes positivity of random choice: each available alternative is chosen with strictly positive probability. The model is characterised by Luce's choice axiom. Ahumada and Ulk¨u (2018) and (indepen- ¨ dently) Echenique and Saito (2019) define the general...
Persistent link: https://www.econbiz.de/10014502400
Persistent link: https://www.econbiz.de/10001661845
Ellis (2016) introduced a variant of the classic (jury) voting game in which voters have ambiguous prior beliefs. He focussed on voting under majority rule and the implications of ambiguity for Condorcet's Theorem. Ryan (2021) studied Ellis's game when voting takes place under the unanimity...
Persistent link: https://www.econbiz.de/10012647850
This paper considers a binary decision to be made by a committee - canonically, a jury - through a voting procedure. Each juror must vote on whether a defendant is guilty or not guilty. The voting rule aggregates the votes to determine whether the defendant is convicted or acquitted. We focus on...
Persistent link: https://www.econbiz.de/10014551560
The classical Luce model (Luce, 1959) assumes positivity of random choice: each available alternative is chosen with strictly positive probability. The model is characterised by Luce's choice axiom. Ahumada and Ülkü (2018) and (independently) Echenique and Saito (2019) define the general Luce...
Persistent link: https://www.econbiz.de/10014551619
We extend and refine conditions for 'Luce rationality' (i.e., the existence of a Luce - or logit - model) in the context of stochastic choice. When choice probabilities satisfy positivity, we show that the cyclical independence (CI) condition of Ahumada and Ülkü (2018) and Echenique and Saito...
Persistent link: https://www.econbiz.de/10014551654
Subjective expected utility (SEU) theory is ubiquitous in models of economic environments involving uncertainty. Part of its appeal is its elegant axiomatization by Anscombe and Aumann, whose representation theorem uses little more than the simple geometry of expected utility. Nevertheless, the...
Persistent link: https://www.econbiz.de/10005449619
Persistent link: https://www.econbiz.de/10005408654
Persistent link: https://www.econbiz.de/10005215502