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A representative consumer theory of the logit model

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  • ANDERSON, S.
  • de PALMA, A.
  • THISSE, J.-F.

Abstract

The log it model is usually derived from a discrete choice approach with stoc hastic utilities. It is shown here that the logit demand system may also be derived from the maximization of a deterministic, entropy-type utility. The latter may be interpreted as the preference function of a representative consumer with variety-seeking behavior. This altern ative view suggests a generalization of the standard logit which allo ws total demand to be determined endogenously. Copyright 1988 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1986043.

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Date of creation: 01 Jan 1986
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Handle: RePEc:cor:louvco:1986043

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Cited by:
  1. Verboven, Frank, 1996. "The nested logit model and representative consumer theory," Economics Letters, Elsevier, vol. 50(1), pages 57-63, January.
  2. Feenstra, R.C. & Levinsohn, J.A., 1989. "Distance, Demand, And Oligopoly Pricing," Working Papers 245, Research Seminar in International Economics, University of Michigan.
  3. Maruyama, Masayoshi & Minamikawa, Kazumitsu, 2009. "Vertical integration, bundled discounts and welfare," Information Economics and Policy, Elsevier, vol. 21(1), pages 62-71, February.
  4. Simon P. Anderson & Andre de Palma, 1989. "The Logit as a Model of Product Differentiation: Further Results and Extensions," Discussion Papers 913, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. Tscharaktschiew, Stefan & Hirte, Georg, 2009. "An urban general equilibrium model with multiple household structures and travel mode choice," Dresden Discussion Paper Series in Economics 06/09, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
  6. Henkel, Joachim & von Hippel, Eric, 2003. "Welfare Implications of User Innovation," CEPR Discussion Papers 4063, C.E.P.R. Discussion Papers.
  7. Marc Gaudry & Emile Quinet, 2012. "Shannon's measure of information, path averages and the origins of random utility models in transport itinerary or mode choice analysis," PSE Working Papers halshs-00713168, HAL.
  8. Rhee, Byong-Duk, 2006. "First-mover disadvantages with idiosyncratic consumer tastes along unobservable characteristics," Regional Science and Urban Economics, Elsevier, vol. 36(1), pages 99-117, January.
  9. Oppenheim, Norbert, 1995. "On the integrability problem in discrete spatial activity systems with site and network externalities," Regional Science and Urban Economics, Elsevier, vol. 25(1), pages 85-108, February.
  10. Kraft, Edwin R., 2002. "Scheduling railway freight delivery appointments using a bid price approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 36(2), pages 145-165, February.
  11. Marc Gaudry & Emile Quinet, 2012. "Shannon's measure of information, path averages and the origins of random utility models in transport itinerary or mode choice analysis," Working Papers halshs-00713168, HAL.
  12. Sengupta, Abhijit & Greetham, Danica Vukadinovic, 2010. "Dynamics of brand competition: Effects of unobserved social networks," Journal of Economic Dynamics and Control, Elsevier, vol. 34(12), pages 2391-2406, December.

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