Random utility models with ordered types and domains

A-Tier
Journal: Journal of Economic Theory
Year: 2023
Volume: 211
Issue: C

Authors (2)

Apesteguia, Jose (Barcelona School of Economics ...) Ballester, Miguel A. (not in RePEc)

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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.

Technical Details

RePEc Handle
repec:eee:jetheo:v:211:y:2023:i:c:s0022053123000704
Journal Field
Theory
Author Count
2
Added to Database
2026-01-24