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Persistent link: https://www.econbiz.de/10005716513
This paper establishes that every random utility discrete choice model (RUM) has a representation that can be characterized by a choice-probability generating function (CPGF) with specific properties, and that every function with these specific properties is consistent with a RUM. The choice...
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This paper considers discrete choice, with choice probabilities coming from maximization of preferences from a random utility field perturbed by additive location shifters (ARUM). Any ARUM can be characterized by a choice-probability generating function (CPGF) whose gradient gives the choice...
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Consumers' health plan choices are highly persistent even though optimal plans change over time. This paper separates two sources of inertia, inattention to plan choice and switching costs. We develop a panel data model with separate attention and choice stages, linked by heterogeneity in...
Persistent link: https://www.econbiz.de/10012139521
This paper proposes a methodology for incorporating psychometric data such as stated preferences and subjective ratings of service attributes in econometric consumer's discrete choice models. Econometric formulation of the general framework of the methodology is presented, followed by two...
Persistent link: https://www.econbiz.de/10015389442