Intrinsic variability in group and individual decision making

Tigran Melkonyan, Zvi Safra

Research output: Contribution to journalArticlepeer-review


The paper examines the random preference model, which can explain inherent variability of preferences in managerial and individual decision making and provides axiomatizations for the utility components of two such models differentiated by the structure of core preferences: expected utility (EU) and betweenness-like preferences. We then examine the possibility of violations of weak stochastic transitivity for these models and for a model with core dual EU preferences. Such violations correspond to the existence of Condorcet cycles, and therefore, the analysis has implications for managerial decision making and for majority rule voting. The paper also investigates implications of its findings for two popular experimental settings.

Original languageEnglish
Pages (from-to)2651-2667
Number of pages17
JournalManagement Science
Issue number9
StatePublished - Sep 2016
Externally publishedYes


  • Betweenness
  • Random preferences
  • Weak stochastic transitivity


Dive into the research topics of 'Intrinsic variability in group and individual decision making'. Together they form a unique fingerprint.

Cite this