Error Theory for Elimination by Aspects

Rajeev Kohli () and Kamel Jedidi ()
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Rajeev Kohli: Graduate School of Business, Columbia University, New York, New York 10027
Kamel Jedidi: Graduate School of Business, Columbia University, New York, New York 10027

Operations Research, 2015, vol. 63, issue 3, 512-526

Abstract: Elimination by aspects (EBA) is a random utility model that is considered to represent the choice process used by consumers more faithfully than logit and probit models. One limitation of the model is that it does not have a known error theory. We show that EBA can be derived by assuming that aspects have random utilities with independent, extreme value distributions. Multinomial logit and rank-ordered logit models are special cases of EBA.

Keywords: elimination by aspects; Luce axiom; multinomial logit model; rank-ordered logit model; independence from irrelevant alternatives; lexicographic choice; choice models (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:63:y:2015:i:3:p:512-526

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