Discrete Choice and Stochastic Utility Maximization
Abstract
Discrete choice models are usually derived from the assumption of random utility maximization We consider the reverse problem whether choice probablities are consistent with maximization of random utilities This leads to tests that consider the variation in these choice probabilities with the average utilities of the alternatives By restricting the range of the average utilities we obtain a sequence of tests with fewer maintained hypotheses In an empirical application even the weakest test rejects the hypothesis of random utility maximizationDownload Info
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Bibliographic Info
Paper provided by The Johns Hopkins University,Department of Economics in its series Economics Working Paper Archive with number 413.Length:
Date of creation: 03 Mar 1999
Date of revision:
Handle: RePEc:jhu:papers:413
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Related research
Keywords:Other versions of this item:
- Ruud H. Koning & Geert Ridder, 2003. "Discrete choice and stochastic utility maximization," Econometrics Journal, Royal Economic Society, vol. 6(1), pages 1-27, 06.
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Jens Leth Hougaard & Tue Tjur & Lars Peter Østerdal, 2006. "Testing Preference Axioms in Discrete Choice experiments: A Reappraisal," Discussion Papers 06-11, University of Copenhagen. Department of Economics.
- Fosgerau, Mogens & McFadden, Daniel & Bierlaire, Michel, 2010.
"Choice probability generating functions,"
MPRA Paper
24214, University Library of Munich, Germany.
- Mogens Fosgerau & Daniel L. McFadden & Michel Bierlaire, 2012. "Choice Probability Generating Functions," NBER Working Papers 17970, National Bureau of Economic Research, Inc.
- Marc Henry & Ismael Mourifie, 2011.
"Euclidean Revealed Preferences: Testing the Spatial Voting Model,"
CIRJE F-Series
CIRJE-F-822, CIRJE, Faculty of Economics, University of Tokyo.
- Marc Henry & Ismael Mourifié, 2011. "Euclidean Revealed Preferences: Testing the Spatial Voting Model," CIRANO Working Papers 2011s-49, CIRANO.
- Mehdi Farsi, 2008.
"Risk-Aversion and Willingness to Pay for Energy Efficient Systems in Rental Apartments,"
CEPE Working paper series
08-55, CEPE Center for Energy Policy and Economics, ETH Zurich.
- Farsi, Mehdi, 2010. "Risk aversion and willingness to pay for energy efficient systems in rental apartments," Energy Policy, Elsevier, vol. 38(6), pages 3078-3088, June.
- Andrew Chesher & Adam Rosen & Konrad Smolinski, 2011.
"An instrumental variable model of multiple discrete choice,"
CeMMAP working papers
CWP39/11, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Andrew Chesher & Adam Rosen & Konrad Smolinski, 2011. "An instrumental variable model of multiple discrete choice," CeMMAP working papers CWP06/11, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
- Mogens Fosgerau, 2004.
"Investigating the distribution of the value of travel time savings,"
Urban/Regional
0411006, EconWPA.
- Fosgerau, Mogens, 2006. "Investigating the distribution of the value of travel time savings," Transportation Research Part B: Methodological, Elsevier, vol. 40(8), pages 688-707, September.
- Mogens Fosgerau, 2004. "Investigating the distribution of the value of travel time savings," Urban/Regional 0410005, EconWPA, revised 25 Nov 2004.
- Simone Bertoli & Jesus Fernandez-Huertas Moraga & Francesc Ortega, 2010.
"Crossing the Border: Self-selection, Earnings and Individual Migration Decisions,"
CReAM Discussion Paper Series
1011, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.
- Bertoli, Simone & Fernández-Huertas Moraga, Jesús & Ortega, Francesc, 2010. "Crossing the Border: Self-Selection, Earnings and Individual Migration Decisions," IZA Discussion Papers 4957, Institute for the Study of Labor (IZA).
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