Random utility models with ordered types and domains
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- dc.contributor.author Apesteguía, José
- dc.contributor.author Ballester, Miguel A.
- dc.date.accessioned 2024-02-23T07:44:07Z
- dc.date.available 2024-02-23T07:44:07Z
- dc.date.issued 2023
- dc.description.abstract 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 studies the micro-foundations of ordered random utility models with the objective of meeting empirical requirements. This is done by working with arbitrary collections of ordered menus of alternatives, and by making no parametric assumptions about the type distribution. The model is characterized by a simple monotonicity axiom. Goodness-of-fit measures are proposed, with proof provided of the strong consistency of extremum estimators defined upon them. A statistical test for the model is also provided.
- dc.description.sponsorship Financial support by FEDER/Ministerio de Ciencia e Innovación (Agencia Estatal de Investigación) through Grant PID2021-125538NB-I00 and through the Severo Ochoa Programme for Centers of Excellence in R&D (Barcelona School of Economics CEX2019-000915-S), and Balliol College is gratefully acknowledged.
- dc.format.mimetype application/pdf
- dc.identifier.citation Apesteguia J, Ballester MA. Random utility models with ordered types and domains. J Econ Theory. 2023;211:105674. DOI: 10.1016/j.jet.2023.105674
- dc.identifier.doi http://dx.doi.org/10.1016/j.jet.2023.105674
- dc.identifier.issn 0022-0531
- dc.identifier.uri http://hdl.handle.net/10230/59226
- dc.language.iso eng
- dc.publisher Elsevier
- dc.relation.ispartof Journal of Economic Theory. 2023;211:105674
- dc.relation.projectID info:eu-repo/grantAgreement/EC/3PE/PID2021-125538NB-I00
- dc.rights © 2023 The Author(s). Published by Elsevier Inc. This is an open access article under the CC BY license
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri https://creativecommons.org/licenses/by/4.0/
- dc.subject.keyword Random utility model
- dc.subject.keyword Ordered utilities
- dc.subject.keyword Arbitrary domains
- dc.title Random utility models with ordered types and domains
- dc.type info:eu-repo/semantics/article
- dc.type.version info:eu-repo/semantics/publishedVersion