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Some aspects of random utility, extreme value theory and multinomial logit models

Author

Listed:
  • Andersson, Jonas

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Ubøe, Jan

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

Abstract

In 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.

Suggested Citation

  • Andersson, Jonas & Ubøe, Jan, 2010. "Some aspects of random utility, extreme value theory and multinomial logit models," Discussion Papers 2010/1, Norwegian School of Economics, Department of Business and Management Science.
  • Handle: RePEc:hhs:nhhfms:2010_001
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    File URL: http://hdl.handle.net/11250/163986
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    References listed on IDEAS

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    More about this item

    Keywords

    Random utility theory; extreme value theory; multinomial logit models; entropy.;

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General

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