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Blavatskyy, Pavlo R (2009). How to Extend a Model of Probabilistic Choice from Binary Choices to Choices among More Than Two Alternatives. Working paper series / Institute for Empirical Research in Economics No. 426, University of Zurich.
This note presents an algorithm that extends a binary choice model to choice among multiple alternatives. Both neoclassical microeconomic theory and Luce choice model are consistent with the proposed algorithm. The algorithm is compatible withnseveral empirical findings (asymmetric dominance and attraction effects) that cannot be explained within standard models.
| Item Type: | Working Paper |
|---|---|
| Communities & Collections: | 03 Faculty of Economics > Department of Economics
Working Paper Series > Institute for Empirical Research in Economics (former) |
| Dewey Decimal Classification: | 330 Economics |
| Scope: | Discipline-based scholarship (basic research) |
| Language: | English |
| Date: | September 2009 |
| Deposited On: | 29 Nov 2011 20:09 |
| Last Modified: | 06 Apr 2024 01:39 |
| Series Name: | Working paper series / Institute for Empirical Research in Economics |
| ISSN: | 1424-0459 |
| OA Status: | Green |
| Other Identification Number: | merlin-id:5311 |
Blavatskyy, Pavlo R