This paper presents a new theory of random consumer demand. The primitive is a collection of probability distributions, rather than a binary preference. Various assumptions constrain these distributions, including analogues of common assumptions about preferences such as transitivity,...

This paper constructs a theoretical model of trade and technology transfer to study a developing country’s choice of optimum tariffs and patent length. A Northern firm has a new good, which it must export to or produce in a Southern country. The Southern government simultaneously chooses an...

The notion of diversity is an issue that is of relevance in several contexts. This paper provides an axiomatic approach to the measurement of diversity. We characterize two nested classes of ordinal measures of diversity and an important member of these classes.

Previous studies on the determinants of the choice of college major have assumed a constant probability of sucess across majors or a constant earnings streamacross majors. Our model disregards these two restrictive assumptions in computing an expected earnings variable to explain the probability...

We provide a survey of the literature on ranking sets of objects. The interpretations of those set ranking include those employed in the theory of choice under complete uncertianty, rankings of opportunity sets, set rankings that appear in matching theory, and the structure of assemly proferences.