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

Tomohiko Konno

doi:10.1016/j.econlet.2011.12.059

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

Tomohiko Konno

Research output: Contribution to journal › Article › peer-review

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 language	English
Pages (from-to)	519-522
Number of pages	4
Journal	Economics Letters
Volume	115
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2011.12.059
Publication status	Published - 2012 Jun
Externally published	Yes

Keywords

Equal likelihood hypothesis
Logit
Probabilistic choice

ASJC Scopus subject areas

Economics and Econometrics
Finance

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10.1016/j.econlet.2011.12.059

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