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dc.contributor.author Apesteguía, José
dc.contributor.author Ballester, Miguel A.
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.accessioned 2020-05-25T09:27:01Z
dc.date.available 2020-05-25T09:27:01Z
dc.date.issued 2020-04-01
dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1719
dc.identifier.citation
dc.identifier.uri http://hdl.handle.net/10230/44748
dc.description.abstract We study random utility models in which heterogeneity of preferences is modeled using an ordered collection of utilities, or types. The paper shows that these models are particularly amenable when combined with domains in which the alternatives of each decision problem are ordered by the structure of the types. We enhance their applicability by: (i) working with arbitrary domains composed of such decision problems, i.e., we do not need to assume any particularly rich data domain, and (ii) making no parametric assumption, i.e., we do not need to formulate any particular assumption on the distribution over the collection of types. We characterize the model by way of two simple properties and show the applicability of our result in settings involving decisions under risk. We also propose a goodness-of-fit measure for the model and prove the strong consistency of extremum estimators defined upon it. We conclude by applying the model to a dataset on lottery choices.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1719
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Random utility models with ordered types and domains
dc.title.alternative
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2020-05-25T09:25:56Z
dc.subject.keyword random utility model; ordered type-dependent utilities; arbitrary domains; non-parametric; goodness-of-fit; extremum estimators; decision under risk.
dc.subject.keyword Behavioral and Experimental Economics
dc.subject.keyword Microeconomics
dc.rights.accessRights info:eu-repo/semantics/openAccess

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