Satis cing and Stochastic Choice
نویسندگان
چکیده
Satis cing is a hugely in uential model of boundedly rational choice, yet it cannot be easily tested using standard choice data. We develop necessary and su cient conditions for stochastic choice data to be consistent with satis cing, assuming that preferences are xed, but search order may change randomly. The model predicts that stochastic choice can only occur amongst elements that are always chosen, while all other choices must be consistent with standard utility maximization. Adding the assumption that the probability distribution over search orders is the same for all choice sets makes the satis cing model a subset of the class of random utility models.
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تاریخ انتشار 2016