Law of demand and stochastic choice

نویسندگان

چکیده

Abstract We consider random choice rules that, by satisfying a weak form of Luce’s axiom, embody probabilistic rationality. show that for this important class stochastic choices, the law demand normal goods—arguably main result traditional consumer theory—continues to hold on average when strictly dominated alternatives are dismissed.

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ژورنال

عنوان ژورنال: Theory and Decision

سال: 2021

ISSN: ['1573-7187', '0040-5833']

DOI: https://doi.org/10.1007/s11238-021-09844-x