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

Tomohiko Konno

Research output: Contribution to journalArticle

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.

Original languageEnglish
Pages (from-to)519-522
Number of pages4
JournalEconomics Letters
Volume115
Issue number3
DOIs
Publication statusPublished - 2012 Jun
Externally publishedYes

Keywords

  • Equal likelihood hypothesis
  • Logit
  • Probabilistic choice

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

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