| Abstract: | Probabilistic preferences and choices and their connections to trip making and to distance-related demand are discussed. They are seen to aid aggregation. Risk aversion in retail shopping behavior and entropy maximizing as rational random behavior are examined. Elasticity of substitution is presented in terms of the covariance matrix. A Markovian phrasing and potential theory allow an analogy with deterministic choice: various applications of potential operators are outlined. Changes in utilities can only be modeled stochastically and some mechanisms are detailed. Price changes are random walked in time and space as a diffusion process. A fairly coherent theory of spatial demand emerges |
