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- Title
Single-Crossing Random Utility Models.
- Authors
Apesteguia, Jose; Ballester, Miguel A.; Lu, Jay
- Abstract
We propose a novel model of stochastic choice: the single-crossing random utility model (SCRUM). This is a random utility model in which the collection of preferences satisfies the single-crossing property. We offer a characterization of SCRUMs based on two easy-to-check properties: the classic Monotonicity property and a novel condition, Centrality. The identified collection of preferences and associated probabilities is unique. We show that SCRUMs nest both single-peaked and single-dipped random utility models and establish a stochastic monotone comparative result for the case of SCRUMs.
- Subjects
STOCHASTIC models; CENTRALITY; HETEROGENEITY; ECONOMICS; PROBABILITY theory
- Publication
Econometrica, 2017, Vol 85, Issue 2, p661
- ISSN
0012-9682
- Publication type
Article
- DOI
10.3982/ECTA14230