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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- 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.
- Daniel McFadden, 2001.
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American Economic Association, vol. 91(3), pages 351-378, June.
- 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.
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