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Chapter 1 - Random Utility

from Part I - Static Choice

Published online by Cambridge University Press:  14 January 2025

Tomasz Strzalecki
Tomasz Strzalecki
Affiliation:
Harvard University, Massachusetts
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Summary

Observed choices are random in psychological experiments on perception and in economics experiments on choice. I discuss a number of possible explanations and introduce the random utility model.

Keywords

stochastic choice functionrandom utilitypsychometric functionsocial surplus
Type
Chapter
Information
Stochastic Choice Theory , pp. 3 - 18
Publisher: Cambridge University Press
Print publication year: 2025

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  • Random Utility
  • Tomasz Strzalecki, Harvard University, Massachusetts
  • Book: Stochastic Choice Theory
  • Online publication: 14 January 2025
  • Chapter DOI: https://doi.org/10.1017/9781009512749.003
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  • Random Utility
  • Tomasz Strzalecki, Harvard University, Massachusetts
  • Book: Stochastic Choice Theory
  • Online publication: 14 January 2025
  • Chapter DOI: https://doi.org/10.1017/9781009512749.003
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Random Utility
  • Tomasz Strzalecki, Harvard University, Massachusetts
  • Book: Stochastic Choice Theory
  • Online publication: 14 January 2025
  • Chapter DOI: https://doi.org/10.1017/9781009512749.003
Available formats
×