Random utility models with ordered types and domains

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 objectiv...

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Detalles Bibliográficos
Autores: Apesteguía, José, Ballester, Miguel A.
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2023
País:España
Institución:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:10230/59226
Acceso en línea:http://hdl.handle.net/10230/59226
http://dx.doi.org/10.1016/j.jet.2023.105674
Access Level:acceso abierto
Palabra clave:Random utility model
Ordered utilities
Arbitrary domains
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spelling Random utility models with ordered types and domainsApesteguía, JoséBallester, Miguel A.Random utility modelOrdered utilitiesArbitrary domainsRandom 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.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.Elsevier202420242023info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfhttp://hdl.handle.net/10230/59226http://dx.doi.org/10.1016/j.jet.2023.105674reponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)InglésJournal of Economic Theory. 2023;211:105674info:eu-repo/grantAgreement/EC/3PE/PID2021-125538NB-I00© 2023 The Author(s). Published by Elsevier Inc. This is an open access article under the CC BY licensehttps://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:recercat.cat:10230/592262026-05-29T05:05:01Z
dc.title.none.fl_str_mv Random utility models with ordered types and domains
title Random utility models with ordered types and domains
spellingShingle Random utility models with ordered types and domains
Apesteguía, José
Random utility model
Ordered utilities
Arbitrary domains
title_short Random utility models with ordered types and domains
title_full Random utility models with ordered types and domains
title_fullStr Random utility models with ordered types and domains
title_full_unstemmed Random utility models with ordered types and domains
title_sort Random utility models with ordered types and domains
dc.creator.none.fl_str_mv Apesteguía, José
Ballester, Miguel A.
author Apesteguía, José
author_facet Apesteguía, José
Ballester, Miguel A.
author_role author
author2 Ballester, Miguel A.
author2_role author
dc.subject.none.fl_str_mv Random utility model
Ordered utilities
Arbitrary domains
topic Random utility model
Ordered utilities
Arbitrary domains
description 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.
publishDate 2023
dc.date.none.fl_str_mv 2023
2024
2024
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/10230/59226
http://dx.doi.org/10.1016/j.jet.2023.105674
url http://hdl.handle.net/10230/59226
http://dx.doi.org/10.1016/j.jet.2023.105674
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Journal of Economic Theory. 2023;211:105674
info:eu-repo/grantAgreement/EC/3PE/PID2021-125538NB-I00
dc.rights.none.fl_str_mv https://creativecommons.org/licenses/by/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Recercat. Dipósit de la Recerca de Catalunya
instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
instname_str Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
reponame_str Recercat. Dipósit de la Recerca de Catalunya
collection Recercat. Dipósit de la Recerca de Catalunya
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