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| Matthew Ryan |
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| ''A Strict Stochastic Utility Theorem'' |
| ( 2015, Vol. 35 No.4 ) |
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| This note strengthens the sufficiency part of Blavatskyy's (2008) {em Stochastic Utility Theorem} and corrects an error in the necessity part. To do so, we introduce the distinction between a {em stochastic utility representation} and a {em strict stochastic utility representation} for binary choice probabilities.
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| Keywords: Stochastic choice, Fechner, Expected utility |
JEL:
D8 - Information, Knowledge, and Uncertainty: General |
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| Manuscript Received : May 25 2015 | | Manuscript Accepted : Dec 13 2015 |
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