000			01265nam a22001577a 4500
999			_c517344 _d517344
008			210710b ||||| |||| 00| 0 eng d
100			_aMcCausland, William J. et al _926464
245			_aTesting the random utility hypothesis directly
260			_aThe Economic Journal: A Journal of the Royal Economic Society
300			_a130(625), Jan, 2020: p.183-207
520			_aWe test a set of inequalities in choice probabilities, shown to be necessary and sufficient for random utility by Falmagne (1978). We run an experiment in which each of 141 participants chooses six times from each doubleton or larger subset of a universe of five lotteries. We compute Bayes factors in favour of random utility, versus an alternative with unrestricted choice probabilities. There is strong evidence that a large majority of participants satisfy random utility; however, there is strong evidence against random utility for four participants. Results are fairly robust to the choice of prior. – Reproduced
650			_aBayesian Analysis, Hypothesis Testing, Laboratory, Individual Behavior, Microeconomic Behavior: Underlying Principles _926465
773			_aThe Economic Journal: A Journal of the Royal Economic Society
906			_aHYPOTHESIS TESTING
942			_cAR