An alternative explanation for the logit form probabilistic choice model from the equal likelihood hypothesis

We present an alternative explanation of the logit probabilistic choice from the equal likelihood hypothesis without the Gumbel distribution. The hypothesis is that if the total utility values from combinations of actions are the same, all such combinations of actions are equally likely.

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Year of publication:	2012
Authors:	Konno, Tomohiko
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 115.2012, 3, p. 519-522
Publisher:	Elsevier
Subject:	Probabilistic choice \| Logit \| Equal likelihood hypothesis

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Type of publication:	Article
Classification:	D03 - Behavioral Economics; Underlying Principles ; C25 - Discrete Regression and Qualitative Choice Models ; C35 - Discrete Regression and Qualitative Choice Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010572212