Deterministic heterogeneity in tastes and product differentiation in the K-logit model
In 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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- Rajaonarison, Dominique & Bolduc, Denis & Jayet, Hubert, 2005. "The K-deformed multinomial logit model," Economics Letters, Elsevier, vol. 86(1), pages 13-20, January.
- Kaniadakis, G., 2001. "Non-linear kinetics underlying generalized statistics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 296(3), pages 405-425.
- Daniel McFadden, 2001.
American Economic Review,
American Economic Association, vol. 91(3), pages 351-378, June.
- Jeffrey M. Perloff & Steven C. Salop, 1985.
"Equilibrium with Product Differentiation,"
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Oxford University Press, vol. 52(1), pages 107-120.
- Perloff, Jeffrey M & Salop, Steven, 1984. "Equilibrium with product differentiation," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt4cq0m6s3, Department of Agricultural & Resource Economics, UC Berkeley.
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