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

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  • Konno, Tomohiko

Abstract

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.

Suggested Citation

  • Konno, Tomohiko, 2012. "An alternative explanation for the logit form probabilistic choice model from the equal likelihood hypothesis," Economics Letters, Elsevier, vol. 115(3), pages 519-522.
    • Handle: RePEc:eee:ecolet:v:115:y:2012:i:3:p:519-522
    DOI: 10.1016/j.econlet.2011.12.059
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    References listed on IDEAS

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    1. McKelvey Richard D. & Palfrey Thomas R., 1995. "Quantal Response Equilibria for Normal Form Games," Games and Economic Behavior, Elsevier, vol. 10(1), pages 6-38, July.
    2. Anderson, Simon Peter & de Palma, Andre & Thisse, Jacques-Francois, 1988. "A Representative Consumer Theory of the Logit Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(3), pages 461-466, August.
    3. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555.
    4. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521747387.
    5. Anas, Alex, 1983. "Discrete choice theory, information theory and the multinomial logit and gravity models," Transportation Research Part B: Methodological, Elsevier, vol. 17(1), pages 13-23, February.
    6. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521747387.
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    More about this item

    Keywords

    Probabilistic choice; Logit; Equal likelihood hypothesis;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions

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