A game theoretic approach to the binary stochastic choice problem

Itzhak Gilboa (1) , Dov Monderer

1 Northwestern University [Evanston]

We provide an equivalence theorem for the binary stochastic choice problem, which may be thought of as an implicit characterization of binary choice probabilities which are consistent with a probability over linear orderings. In some cases this implicit characterization is very useful in derivation of explicit necessary conditions. In particular, we present a new set of conditions which generalizes both Cohen and Falmagne's and Fishburn's conditions.

Keywords: Mathematical model; Choice; Stochastic model; Probabilistic model; Game theory; Human

Domains: Humanities and Social Sciences; Economics and Finance; Economy and decision science

Itzhak Gilboa, Dov Monderer. A game theoretic approach to the binary stochastic choice problem. Journal of Mathematical Psychology, 1992, Vol.36, n°4, pp. 555-572. ⟨10.1016/0022-2496(92)90109-K⟩. ⟨hal-00481377⟩