Deterministic heterogeneity in tastes and product differentiation in the K-logit model
AbstractIn this paper we use the K-deformed multinomial logit model to study product differentiation. The focus is on the economic interpretation of the deformation parameter which is the key parameter of this model. Then we establish the relationship between this parameter and probability choice, price elasticity and markup.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 100 (2008)
Issue (Month): 3 (September)
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Web page: http://www.elsevier.com/locate/ecolet
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