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Efficiency Gains in Rank†ordered Multinomial Logit Models

Arie Beresteanu () and Federico Zincenko ()

Oxford Bulletin of Economics and Statistics, 2018, vol. 80, issue 1, 122-134

Abstract: This paper considers estimation of discrete choice models when agents report their ranking of the alternatives (or some of them) rather than just the utility maximizing alternative. We investigate the parametric conditional rank†ordered Logit model. We show that conditions for identification do not change even if we observe ranking. Moreover, we fill a gap in the literature and show analytically and by Monte Carlo simulations that efficiency increases as we use additional information on the ranking.

Date: 2018
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https://doi.org/10.1111/obes.12190

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Oxford Bulletin of Economics and Statistics is currently edited by Christopher Adam, Anindya Banerjee, Christopher Bowdler, David Hendry, Adriaan Kalwij, John Knight and Jonathan Temple

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