We analyze the use of discrete choice models for the estimation of risk aversion and show a fundamental flaw in the standard random utility model which is commonly used in the literature. Specifically, we find that given ...

What are the best voting systems in terms of utilitarianism? Or in terms of maximin, or maximax? We study these questions for the case of three alternatives and a class of structurally equivalent voting rules. We show that ...

Random utility models in which heterogeneity of preferences is modeled by means of an ordered collection of utilities, or types, provide a powerful framework for understanding a variety of economic behaviors. This paper ...

We propose and study the concept of survey rationalizability. In the simplest scenario of dichotomous attitudinal surveys, survey rationalizability means that both questions and individuals'views can be positioned on the ...