When Can A Demand System Be Described By A Multinomial Logit With Income Effect?
Jacques Thisse () and
Philip Ushchev ()
No WP BRP 139/EC/2016, HSE Working papers from National Research University Higher School of Economics
We show that a wide class of demand systems for dierentiated products, such as those generated by additive preferences, indirectly additive preferences, and Kimball-like homothetic preferences, can be given a multinomial logit foundation provided that the conditional indirect utility is nonlinear and varies with the whole price array.
Keywords: discrete choice; multinomial logit; demand systems; additive preferences; homothetic preferences (search for similar items in EconPapers)
JEL-codes: D43 L11 L13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-dcm and nep-ind
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Published in WP BRP Series: Economics / EC, June 2016, pages 1-20
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Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:139/ec/2016
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