Some aspects of random utility, extreme value theory and multinomial logit models
AbstractIn this paper we give a survey on some basic ideas related to random utility, extreme value theory and multinomial logit models. These ideas are well known within the field of spatial economics, but do not appear to be common knowledge to researchers in probability theory. The purpose of the paper is to try to bridge this gap.
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Bibliographic InfoPaper provided by Department of Business and Management Science, Norwegian School of Economics in its series Discussion Papers with number 2010/1.
Length: 15 pages
Date of creation: 15 Jan 2010
Date of revision:
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Web page: http://www.nhh.no/en/research-faculty/department-of-business-and-management-science.aspx
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Random utility theory; extreme value theory; multinomial logit models; entropy.;
Find related papers by JEL classification:
- C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-04-17 (All new papers)
- NEP-DCM-2010-04-17 (Discrete Choice Models)
- NEP-HPE-2010-04-17 (History & Philosophy of Economics)
- NEP-UPT-2010-04-17 (Utility Models & Prospect Theory)
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