How to Extend a Model of Probabilistic Choice from Binary Choices to Choices Among More than Two Alternatives

This note presents an algorithm that extends a binary choice model to choice among multiple alternatives. Both neoclassical microeconomic theory and Luce choice model are consistent with the proposed algorithm. The algorithm is compatible with several empirical findings (asymmetric dominance and attraction effects) that cannot be explained within standard models

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Year of publication:	2009
Authors:	Blavatskyy, Pavlo R.
Publisher:	[S.l.] : SSRN
Subject:	Präferenztheorie \| Theory of preferences

Extent:	1 Online-Ressource (10 p)
Series:	Institute for Empirical Research in Economics University of Zurich Working Paper Series
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 3, 2009 erstellt
Other identifiers:	10.2139/ssrn.1467605 [DOI]
Classification:	C44 - Statistical Decision Theory; Operations Research ; D11 - Consumer Economics: Theory ; D7 - Analysis of Collective Decision-Making ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014204360