In interpreting human behavior there is a need to substitute `stochastic consistency of choices' for `absolute consistency of choices'. The latter is usually assumed in economic theory, but is not well supported by experience. It is, in fact, not assumed in empirical econometrics and psychology.
CITATION STYLE
Block, H. D. (1974). Random Orderings and Stochastic Theories of Responses (1960). In Economic Information, Decision, and Prediction (pp. 172–217). Springer Netherlands. https://doi.org/10.1007/978-94-010-9276-0_8
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