Best and worst choices

André de Palma (), Karim Kilani and Gilbert Laffond ()
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Karim Kilani: LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM]
Gilbert Laffond: LIRSA-CRC - LIRSA. Centre de recherche en comptabilité - LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM]

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Abstract: We show that the number of individuals selecting their worst alternatives within a finite set of alternatives can be written as an alternating sum of the number of individuals having their best choice within subset of alternatives. The identities are then applied to random utility models, including the multinomial logit model, the mixed logit model and the disaggregated version of the CES representative consumer model. Finally, we show that better estimates are obtained if respondents are asked to reveal their worst instead of their best choices.

Keywords: Best-worst; CES; Discrete choice models; Gumbel distribution; Logit; Logsum (search for similar items in EconPapers)
Date: 2013-05-24
New Economics Papers: this item is included in nep-dcm and nep-upt
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00825656
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Citations: View citations in EconPapers (2)

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