Construct · 1 fields · 1 citations

random preference model: a standalone construct

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Decision theory

a stochastic choice model in which a person holds a set of possible preference orderings and one is drawn at random at each decision.

In decision theory, random preference model refers to a stochastic choice model in which a person holds a set of possible preference orderings and one is drawn at random at each decision. This meaning comes from Loomes (1995) in European Economic Review.[1]

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Nearby constructs

model3 fields · 3 citationsjingle · one word, three constructs person3 fields · 6 citationsjingle · one word, three constructs preference4 fields · 7 citationsjingle · one word, four constructs

References

Loomes, G., & Sugden, R. (1995). Incorporating a stochastic element into decision theories. European Economic Review, 39(3-4), 641-648. https://doi.org/10.1016/0014-2921(94)00071-7

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