Sequential and Multinomial Logit: A Nested Model
AbstractA nested model is presented which has both the sequential and multinomial logit model as special cases. This model provides a simple test to investigate the validity of these specifications. Some theoretical properties of the model are discussed. During the analysis a distribution function is derived, which, to the best of our knowledge, has not been used before. This distribution is shown to be a generalization of the type I extreme-value distribution. Monte Carlo experiments and empirical applications of the model are presented.
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Bibliographic InfoArticle provided by Springer in its journal Empirical Economics.
Volume (Year): 22 (1997)
Issue (Month): 1 ()
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