Heterogeneous Choice Sets and Preferences

Heterogeneous Preferences and the Efficacy of Public School Choice

Public school choice plans are intended to increase equity and quality in education by offering students at under-performing schools immediate academic gains from attending a higherachieving school and by creating demand-side pressure on under-performing schools to improve. We develop a model to show how these gains from choice depend on heterogeneity in how parents choose schools, and test the...

Heterogeneous Preferences and Location Choice with Multi-product Firms

This paper investigates whether the principle of minimum differentiation extends to the location choices of multi-product firms of different sizes supplying differentiated goods to consumers with heterogeneous tastes. Our analysis explicitly allows for the possibility that the resulting location equilibria will be asymmetric, and we compare the multiproduct equilibria with the location configur...

Equilibrium Asset Pricing and Portfolio Choice with Heterogeneous Preferences

We provide general representations for the rate of return and the volatility of a risky asset and for the optimal portfolios in equilibrium with heterogeneous agents. Our universal representations allow for arbitrary utility functions and an arbitrary diffusion process for the state variable. The key element is a new object that we call the “rate of macroeconomic fluctuations”: In equilibrium, ...

Utilities , Preferences and Choice

Prioritized Preferences and Choice Constraints

It is increasingly recognised that user preferences should be addressed in many advanced database applications, such as adaptive searching in databases. However, the fundamental issue of how preferences impact the semantics and rankings in a relation is not resolved. In this paper, we model a user preference term involving one attribute as a hierarchy of its underlying data values and formalise...