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Theoretical Economics
Article . 2024 . Peer-reviewed
License: CC BY NC
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Article . 2024
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https://dx.doi.org/10.48550/ar...
Article . 2021
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Correlated choice

Authors: Chambers, Christopher P.; Masatlioglu, Yusufcan; Turansick, Christopher;

Correlated choice

Abstract

We study random joint choice rules, allowing for interdependence of choice across agents. These capture random choice by multiple agents, or a single agent across goods or time periods. Our interest is in separable choice rules, where each agent can be thought of as acting independently of the other. A random joint choice rule satisfies marginality if for every individual choice set, we can determine the individual's choice probabilities over alternatives independently of the other individual's choice set. We offer two characterizations of random joint choice rules satisfying marginality in terms of separable choice rules. While marginality is a necessary condition for separability, we show that it fails to be sufficient. We provide an additional condition on the marginal choice rules which, along with marginality, is sufficient for separability.

Keywords

ddc:330, dynamic choice, Random utility, Decision theory, Correlation, FOS: Economics and business, Stochastic choice, random utility, correlation, D91, Economics - Theoretical Economics, D01, stochastic choice, Theoretical Economics (econ.TH), RANDOM UTILITY, CORRELATION, STOCHASTIC CHOICE, DYNAMIC CHOICE, Dynamic choice

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
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gold