Stochastic models for binary discrete choice under risk: a critical primer and econometric comparison

By Nathaniel T. Wilcox. 2008

275 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/05ccf6f993ee898de09719976782c90539a5cac2

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Citations in the corpus

Monotone Stochastic Choice Models: The Case of Risk and Time Preferences (2015, background): “In particular, when facing a choice between two alternatives x and y, the RUM probability assigned to choosing x is simply the probability that Uω(x) + (x) is greater than Uω(y) + (y).”
Search Dynamics in Consumer Choice under Time Pressure: An Eye-Tracking Study (2011, background): “…There is early (Duncan R. Luce 1959), extensive (David W. Harless and Camerer 1994; John D. Hey and Chris Orme 1994), statistical (Nathaniel T. Wilcox 2008), and biological (Rangel 2008) support for this type of “soft maximization.” that allowing longer choice times hurts choice quality (if…”
Consistency of Higher Order Risk Preferences (2012, unknown): “See Wilcox (2008) for a good review of these concepts.”
Responsibility for what? Fairness and individual responsibility (2010, background): “It has been argued that in choice situations with high stakes, the influence of the error term should be larger in utility terms (Wilcox, 2008, forthcoming).”
Does Africa Need a Rotten Kin Theorem? Experimental Evidence from Village Economies (2012, result): “our proposed scaling generates results which are similar to those generated by the “contextual utility” model of Wilcox (2008) and the certainty equivalent procedure used in”
Risk aversion relates to cognitive ability: Preferences or Noise? (2016, background): “Second, previous research has pointed out that estimates may differ significantly depending on the choice of stochastic model (Wilcox 2008; Harrison and Rutström 2008).”
Risk Aversion in the Laboratory (2008, methodology): “Another approach to heterogeneity involves the use of ‘‘random parameters’’ in models, illustrated well by Wilcox (2008a, 2008b).”
NEUROECONOMICS: A CRITICAL RECONSIDERATION (2008, background): “Even the very definition of risk aversion needs to be specified using stochastic terms unless we are to impose absurd economic properties on estimates (Wilcox 2008a, 2008b).”
Transitive in Our Preferences, But Transitive in Different Ways: An Analysis of Choice Variability (2014, background): “…tic le is in te nd ed so le ly fo r th e pe rs on al us e of th e in di vi du al us er an d is no tt o be di ss em in at ed br oa dl y. Decision © 2014 American Psychological Association 2014, Vol. 1, No. 2, 102–122 2325-9965/14/$12.00 DOI: 10.1037/dec0000011 102 (see Wilcox, 2008, for a summary).”
Misconceptions and Game Form Recognition: Challenges to Theories of Revealed Preference and Framing (2014, background): “Mistakes, decision error, and noise can complicate inferences about fundamental economic primitives, and these complications call for stochastic and heterogeneous models. ðFor an important application to decision making when agents face risk or uncertainty, see Wilcox ½2008, 2011 .”