An axiomatic foundation of conditional logit

Breitmoser Y (2020)
ECONOMIC THEORY.

Zeitschriftenaufsatz | E-Veröff. vor dem Druck | Englisch
 
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Abstract / Bemerkung
This paper considers a decision maker choosing from a set of options when options have multiple real-valued attributes. Assuming DM chooses all options with positive probability, four invariance assumptions are necessary and sufficient for choice probabilities to take McFadden's conditional logit form: independence of irrelevant alternatives, translation invariance, presentation independence and context independence. Variations on these assumptions yield generalized logit and contextual logit models. This shows that even specific logit models have behavioral foundations in simple invariance assumptions involving observables only, which therefore are directly testable.
Stichworte
Conditional logit; Axiomatic foundation
Erscheinungsjahr
2020
Zeitschriftentitel
ECONOMIC THEORY
ISSN
0938-2259
eISSN
1432-0479
Page URI
https://pub.uni-bielefeld.de/record/2944190

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Breitmoser Y. An axiomatic foundation of conditional logit. ECONOMIC THEORY. 2020.
Breitmoser, Y. (2020). An axiomatic foundation of conditional logit. ECONOMIC THEORY. doi:10.1007/s00199-020-01281-1
Breitmoser, Y. (2020). An axiomatic foundation of conditional logit. ECONOMIC THEORY.
Breitmoser, Y., 2020. An axiomatic foundation of conditional logit. ECONOMIC THEORY.
Y. Breitmoser, “An axiomatic foundation of conditional logit”, ECONOMIC THEORY, 2020.
Breitmoser, Y.: An axiomatic foundation of conditional logit. ECONOMIC THEORY. (2020).
Breitmoser, Yves. “An axiomatic foundation of conditional logit”. ECONOMIC THEORY (2020).