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Yves Breitmoser (Uni Bielefeld)

18. März 2020 @ 15:45 - 17:15

An axiomatic foundation of conditional logit

This paper considers a decision maker choosing from a set of options when options have multiple real-valued attributes. Assuming DM chooses all options with positive probability, four invariance assumptions are necessary and sufficient for choice
probabilities to take McFadden’s conditional logit form: independence of irrelevant alternatives, translation invariance, presentation independence and context independence. Variations on these assumptions yield generalized logit and contextual logit
models. This shows that even specific logit models have behavioral foundations in simple invariance assumptions involving observables only, which therefore are
directly testable.

Details

Datum:
18. März 2020
Zeit:
15:45 - 17:15
Veranstaltungskategorie:

Veranstaltungsort

Gebäude H1, Raum 1503

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Fächergruppe Mathematik und Statistik
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