Luce's choice axiom

Luce's choice axiom

DOI and citation tidying.In probability theory, Luce's choice axiom, formulated by R. Duncan Luce (1959), states that the probability of selecting one item over another from a pool of many items is not affected by the presence or absence of other items in the pool. Selection of this kind is said to have "independence from irrelevant alternatives" (IIA).

Overview

Mathematically, the axiom states that the probability of selecting item "i" from a pool of "j" items is given by:

: P(i) = frac{w_i}{sum_j{w_j

where "w" indicates the weight (a measure of some typically salient property) of a particular item.

Applications

The axiom is often encountered in economics, where it can be used to model a consumer's tendency to choose one brand of product over another. It is also found in psychology, particularly in cognitive science, where it can be used to model some stochastic properties of neural networks.

References

*cite book
author = Luce, R. D.
authorlink = R. Duncan Luce
title = Individual Choice Behavior: A Theoretical Analysis
year = 1959
id = ISBN 0-486-44136-9
location = New York
publisher = Wiley

*cite journal
author = Luce, R. D.
authorlink = R. Duncan Luce
title = The choice axiom after twenty years
url = http://www.imbs.uci.edu/personnel/luce/pre1990/1977/Luce_JMP_1977a.pdf
journal = Journal of Mathematical Psychology
volume = 15
pages = 215–233
year = 1977 | doi = 10.1016/0022-2496(77)90032-3


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Luce — can refer to: * Luče, a town in Slovenia * Luce (band), a rock band from San Francisco * Luce Bay, a large Bay in Wigtownshire in southern Scotland * Luce County, Michigan, a county in the U.S. state of Michigan * Luce (tramonti a nord est),… …   Wikipedia

  • R. Duncan Luce — Robert Duncan Luce (born May 16, 1925) is the Distinguished Research Professor of Cognitive Science at the University of California, Irvine. Luce received a B.S. in Aeronautical Engineering from the Massachusetts Institute of Technology in 1945,… …   Wikipedia

  • Duncan Luce — Robert Duncan Luce (* 16. Mai 1925) ist ein US amerikanischer Mathematiker, Wirtschaftswissenschaftler und Psychologe. Der emeritierte Hochschullehrer ist vor allem für das nach ihm benannte Wahlaxiom von Luce aus dem Bereich der… …   Deutsch Wikipedia

  • Independence of irrelevant alternatives — (IIA) is an axiom of decision theory and various social sciences. The word is used in different meanings in different contexts. Although they all attempt to provide a rational account of individual behavior or aggregation of individual… …   Wikipedia

  • List of mathematics articles (L) — NOTOC L L (complexity) L BFGS L² cohomology L function L game L notation L system L theory L Analyse des Infiniment Petits pour l Intelligence des Lignes Courbes L Hôpital s rule L(R) La Géométrie Labeled graph Labelled enumeration theorem Lack… …   Wikipedia

  • Theory of conjoint measurement — The theory of conjoint measurement (also known as conjoint measurement or additive conjoint measurement) is a general, formal theory of continuous quantity. It was independently discovered by the French economist Gerard Debreu (1960) and by the… …   Wikipedia

  • Behavioral economics — and its related area of study, behavioral finance, use social, cognitive and emotional factors in understanding the economic decisions of individuals and institutions performing economic functions, including consumers, borrowers and investors,… …   Wikipedia

  • Paul Cohen (mathematician) — Not to be confused with Paul Cohn. Paul J. Cohen Born April 2, 1934(1934 04 02) Long Branch, New Jersey Died March 23, 2007 …   Wikipedia

  • Measure (mathematics) — Informally, a measure has the property of being monotone in the sense that if A is a subset of B, the measure of A is less than or equal to the measure of B. Furthermore, the measure of the empty set is required to be 0. In mathematical analysis …   Wikipedia

  • Howard Raiffa — (1924 ndash; IPAEng|ˈreɪfə) is the Frank P. Ramsey Professor (Emeritus) of Managerial Economics, a joint chair held by the Business School and the Kennedy School of Government at Harvard University. He is an influential Bayesian decision theorist …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”