An alternative explanation for the logit form probabilistic choice model from the equal likelihood hypothesis

Tomohiko Konno

Economics Letters, 2012, vol. 115, issue 3, 519-522

Abstract: We present an alternative explanation of the logit probabilistic choice from the equal likelihood hypothesis without the Gumbel distribution. The hypothesis is that if the total utility values from combinations of actions are the same, all such combinations of actions are equally likely.

Keywords: Probabilistic choice; Logit; Equal likelihood hypothesis (search for similar items in EconPapers)
JEL-codes: C25 C35 D03 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:3:p:519-522

DOI: 10.1016/j.econlet.2011.12.059

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