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Stochastic Choice Theory

By Tomasz Strzalecki
eBook
$46.99
By Tomasz Strzalecki
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Models of stochastic choice are studied in decision theory, discrete choice econometrics, behavioral economics and psychology. Numerous experiments show that perception of stimuli is not deterministic, but stochastic (randomly determined). A growing body of evidence indicates that the same is true of economic choices. Whether trials are separated by days or minutes, the fraction of choice reversals is substantial. Stochastic Choice Theory offers a systematic introduction to these models, un...

Categories

BusinessEconomicsEconomics - Mathematical & Quanitative MethodsEconometrics