no code implementations • 17 Jul 2020 • Simone Cerreia-Vioglio, Per Olov Lindberg, Fabio Maccheroni, Massimo Marinacci, Aldo Rustichini
We prove that a random choice rule satisfies Luce's Choice Axiom if and only if its support is a choice correspondence that satisfies the Weak Axiom of Revealed Preference, thus it consists of alternatives that are optimal according to some preference, and random choice then occurs according to a tie breaking among such alternatives that satisfies Renyi's Conditioning Axiom.
