2 papers
econ.TH2025
The Luce Model, Regularity, and Choice Overload
Daniele Caliari, Henrik Petri
We characterize regularity (Block & Marschak, 1960) within a novel stochastic model: the General Threshold Luce model [GTLM]. We apply our results to study choice overload, identif…
econ.TH2024
Irrational Random Utility Models
Daniele Caliari, Henrik Petri
The Random Utility Model (RUM) is the leading model to represent the aggregate choices of a heterogeneous population of preference maximizers. We show that if (and only if) prefere…