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Empirical underidentification in estimating random utility models: The role of choice sets and standardizations
A standard approach to distinguishing people’s risk preferences is to estimate a random utility model using a power utility function to characterize the preferences and a logit function to capture choice consistency. We demonstrate that with often‐used choice situations, this model suffers from empi...
| Autores principales: | , , |
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
| Publicado: |
John Wiley and Sons Inc.
2021
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| Materias: | |
| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9298769/ https://www.ncbi.nlm.nih.gov/pubmed/34747506 http://dx.doi.org/10.1111/bmsp.12256 |