Article ID Journal Published Year Pages File Type
7372732 Mathematical Social Sciences 2018 5 Pages PDF
Abstract
We study a modification of the Luce rule for stochastic choice which admits the possibility of zero probabilities. In any given menu, the decision maker uses the Luce rule on a consideration set, potentially a strict subset of the menu. Without imposing any structure on how the consideration sets are formed, we characterize the resulting behavior using a single axiom. Our result offers insight into special cases where consideration sets are formed under various restrictions.
Related Topics
Physical Sciences and Engineering Mathematics Applied Mathematics
Authors
, ,