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- W4231176577 abstract "We study stochastic choice as the outcome of deliberate randomization. We derive a general representation of a stochastic choice function where stochasticity allows the agent to achieve from any set the maximal element according to her underlying preferences over lotteries. We show that in this model stochasticity in choice captures complementarity between elements in the set, and thus necessarily implies violations of Regularity/Monotonicity, one of the most common properties of stochastic choice. This feature separates our approach from other models, e.g., Random Utility. (JEL D80, D81)" @default.
- W4231176577 created "2022-05-11" @default.
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- W4231176577 date "2019-07-01" @default.
- W4231176577 modified "2023-09-30" @default.
- W4231176577 title "Deliberately Stochastic" @default.
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- W4231176577 doi "https://doi.org/10.1257/aer.20180688" @default.
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