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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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    Citations

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    Cited by:

    1. Ubøe, Jan & Andersson, Jonas & Jörnsten, Kurt & Lillestøl, Jostein & Sandal, Leif, 2017. "Statistical testing of bounded rationality with applications to the newsvendor model," European Journal of Operational Research, Elsevier, vol. 259(1), pages 251-261.
    2. Andersson, Jonas & Jörnsten, Kurt & Lillestøl, Jostein & Ubøe, Jan, 2019. "Analyzing learning effects in the newsvendor model by probabilistic methods," Discussion Papers 2019/13, Norwegian School of Economics, Department of Business and Management Science.
    3. Murayama, Koji & Nagayasu, Jun, 2019. "Spatial Dependence, Social Networks, and Economic Structures in Regional Labor Migration," MPRA Paper 95691, University Library of Munich, Germany.

    More about this item

    Keywords

    Random utility theory; extreme value theory; multinomial logit models; entropy.;
    All these keywords.

    JEL classification:

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

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