Fechner’s strong utility model for choice among n>2 alternatives: Risky lotteries, Savage acts, and intertemporal payoffs
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DOI: 10.1016/j.jmateco.2018.08.005
Abstract: Abstract This paper generalizes a classic Fechner model (also known as strong utility) of probabilistic/stochastic binary choice to choice among several alternatives. Special cases of the model include Luce’s choice model, multivariate probit and deterministic… read more here.
Keywords: fechner strong; model; choice; strong utility ... See more keywords