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SINGLE-CROSSING RANDOM UTILITY MODELS
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DOI：10.3982/ECTA14230.png)
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Abstract
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We propose a novel model of stochastic choice: the single-crossing random utility model (SCRUM). This is a random utility model in which the collection of preferences satisfies the single-crossing property. We offer a characterization of SCRUMs based on two easy-to-check properties: the classic Monotonicity property and a novel condition, Centrality. The identified collection of preferences and associated probabilities is unique. We show that SCRUMs nest both single-peaked and single-dipped random utility models and establish a stochastic monotone comparative result for the case of SCRUMs.
Keywords:
Stochastic choice
single-crossing property
single-peaked preferences
single-dipped preferences
random utility models
monotone comparative statics
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