Since the pioneering work of McFadden (1974), discrete choice random-utility models have become work horses in many areas in transportation analysis and economics. In these models, the random variables enter additively or multiplicatively and the noise distributions take a particular parametric...

It is not unusual in real-life that one has to choose among finitely many alternatives when the merit of each alternative is not perfectly known. This may be the case when an individual chooses school, doctor or pension plan, or when a firm chooses between alternative R&D projects. Instead of...