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BEGIN:VEVENT
DTSTAMP:20260404T073829Z
DTSTART;VALUE=DATE-TIME:20240306T160000
DTEND;VALUE=DATE-TIME:20240306T173000
SUMMARY:CRETA Seminar - Omer Tamuz (Caltech)
TZID:Europe/London
UID:20240306-8a17841a894968af0189632a1cf30d70@warwick.ac.uk
CREATED:20240226T103019Z
DESCRIPTION:Title: Decomposable stochastic choice with Fedor Sandomirskiy
  Abstract: We investigate inherent stochasticity in individual choice be
 havior across diverse decisions. Each decision is modeled as a menu of a
 ctions with outcomes\, and a stochastic choice rule assigns probabilitie
 s to actions based on the outcome profile. Outcomes can be monetary valu
 es\, lotteries\, or elements of an abstract outcome space. We characteri
 ze decomposable rules: those that predict independent choices across dec
 isions not affecting each other. For monetary outcomes\, such rules form
  the one-parametric family of multinomial logit rules. For general outco
 mes\, there exists a universal utility function on the set of outcomes\,
  such that choice follows multinomial logit with respect to this utility
 . The conclusions are robust to replacing strict decomposability with an
  approximate version or allowing minor dependencies on the actions’ labe
 ls. Applications include choice over time\, under risk\, and with ambigu
 ity.
LOCATION:S2.79
CATEGORIES:CRETA Seminar
LAST-MODIFIED:20240226T103019Z
ORGANIZER;CN=Gill Gudger:
END:VEVENT
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