A simple solution to the problem of independence of irrelevant alternatives in Choo and Siow marriage market model
Federico H. Gutierrez
Economics Letters, 2020, vol. 186, issue C
This paper proposes a simple solution to the independence of irrelevant alternatives (IIA) problem in Choo and Siow (2006b) model, overcoming what is probably the main limitation of this approach. The solution consists of assuming match-specific rather than choice-specific random preferences. The original marriage matching function gets modified by an adjustment factor that improves its empirical properties.
Keywords: Independence of irrelevant alternatives; Marriage markets; Transferable utility (search for similar items in EconPapers)
JEL-codes: J12 J16 J10 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:186:y:2020:i:c:s0165176519303945
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