Related papers: Social Preferences and Deliberately Stochastic Beh…
Nontransitive choices have long been an area of curiosity within economics. However, determining whether nontransitive choices represent an individual's preference is a difficult task since choice data is inherently stochastic. This paper…
Our goal is to develop a partial ordering method for comparing stochastic choice functions on the basis of their individual rationality. To this end, we assign to any stochastic choice function a one-parameter class of deterministic choice…
It is well known that ex ante social preferences and expected utility are not always compatible. In this note, we introduce a novel framework that naturally separates social preferences from selfish preferences to answer the following…
This survey reviews recent developments in revealed preference theory. It discusses the testable implications of theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments;…
We determine the quality of randomized social choice mechanisms in a setting in which the agents have metric preferences: every agent has a cost for each alternative, and these costs form a metric. We assume that these costs are unknown to…
The Random Utility Maximization model is by far the most adopted framework to estimate consumer choice behavior. However, behavioral economics has provided strong empirical evidence of irrational choice behavior, such as halo effects, that…
Human cooperation depends on how accurately we infer others' motives--how much they value fairness, generosity, or self-interest from the choices they make. We model that process in binary dictator games, which isolate moral trade-offs…
We study efficiency in general collective choice problems where agents have ordinal preferences and randomization is allowed. We explore the structure of preference profiles where ex-ante and ex-post efficiency coincide, offer a unifying…
To choose between two discrete goods, a consumer pays attention to only those with prices below a threshold. From these, she chooses her most preferred good. We assume consumers in a population have the same preference but may have…
This paper develops a framework to study the statistical power of revealed-preference tests. With randomly sampled budgets and mild smoothness of demand, statistical learning implies that any model consistent with the data must approximate…
A stylized experiment, the public goods game, has taught us the peculiar reproducible fact that humans tend to contribute more to shared resources than expected from economically rational assumptions. There have been two competing…
Human behavioural patterns exhibit selfish or competitive, as well as selfless or altruistic tendencies, both of which have demonstrable effects on human social and economic activity. In behavioural economics, such effects have…
One-shot anonymous unselfishness in economic games is commonly explained by social preferences, which assume that people care about the monetary payoffs of others. However, during the last ten years, research has shown that different types…
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm…
A growing body of work suggests that people are sensitive to moral framing in economic games involving prosociality, suggesting that people hold moral preferences for doing the "right thing". What gives rise to these preferences? Here, we…
We propose an axiomatic approach which economically underpins the representation of dynamic preferences in terms of a stochastic utility function, sensitive to the information available to the decision maker. Our construction is iterative…
When it comes to structural estimation of risk preferences from data on choices, random utility models have long been one of the standard research tools in economics. A recent literature has challenged these models, pointing out some…
Preferences play a key role in determining what goals/constraints to satisfy when not all constraints can be satisfied simultaneously. In this work, we study preference-based planning in a stochastic system modeled as a Markov decision…
Computational preference elicitation methods are tools used to learn people's preferences quantitatively in a given context. Recent works on preference elicitation advocate for active learning as an efficient method to iteratively construct…
Despite strong evidence for peer effects, little is known about how individuals balance intrinsic preferences and social learning in different choice environments. Using a combination of experiments and discrete choice modeling, we show…