ON THE REPRESENTATION OF THE NESTED LOGIT MODEL

Alfred Galichon

Econometric Theory, 2022, vol. 38, issue 2, 370-380

Abstract: In this paper, we give a two-line proof of a long-standing conjecture of Ben-Akiva in his 1973 PhD thesis regarding the random utility representation of the nested logit model, thus providing a renewed and straightforward textbook treatment of that model. As an application, we provide a closed-form formula for the correlation between two Fréchet random variables coupled by a Gumbel copula.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:cup:etheor:v:38:y:2022:i:2:p:370-380_5

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