A Representative Consumer Theory of the Logit Model
证明Logit需求系统也可从确定性熵型效用最大化推导,该效用可解释为追求多样性的代表性消费者的偏好函数,并提出了允许总需求内生决定的标准Logit的推广。
The log it model is usually derived from a discrete choice approach with stoc hastic utilities. It is shown here that the logit demand system may also be derived from the maximization of a deterministic, entropy-type utility. The latter may be interpreted as the preference function of a representative consumer with variety-seeking behavior. This altern ative view suggests a generalization of the standard logit which allo ws total demand to be determined endogenously. Copyright 1988 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.