Discrete choice with large choice sets

Robert Bordley

Economics Letters, 2013, vol. 118, issue 1, 13-15

Abstract: Modeling product demand with discrete choice models requires specifying how all competing products rate on various attributes, which becomes difficult when the choice set is large. As a result, this paper approximates the ratings for the various product offerings with a parameterized distribution. When applied to the mixed multinomial logit model with a Gaussian parameterized distribution, this leads to an easily estimable, ‘anti-ideal point’ choice model.

Keywords: Discrete choice; Logit; Random utility maximization (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:118:y:2013:i:1:p:13-15

DOI: 10.1016/j.econlet.2012.05.010

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