期刊
ECONOMIC THEORY
卷 68, 期 4, 页码 811-826出版社
SPRINGER
DOI: 10.1007/s00199-018-1145-5
关键词
The Luce model; Logit model; Independence of irrelevant alternatives axiom
类别
资金
- National Science Foundation [SES 1558757]
We extend the Luce model of discrete choice theory to satisfactorily handle zero-probability choices. The Luce mode struggles to explain choices that are not made. The model requires that if an alternative y is never chosen when x is available, then there is no set of alternatives from which y is chosen with positive probability. In our model, if an alternative y is never chosen when x is available, then we infer that y is dominated by x. While dominated by x, y may still be chosen with positive probability, when grouped with a comparable set of alternatives.
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