Demand for Differentiated Products, Discrete Choice Models, and the Characteristics Approach
提出一个特征框架，连接不同产品差异化建模方法，证明需求系统满足总替代性时对产品位置的要求，并将logit、probit等离散选择模型纳入该框架。
We propose a specific characteristics framework in order to construct linkages between alternative conceptual approaches to modelling product differentiation. First, it is shown that a demand system which satisfies the gross substitutes property imposes specific requirements on the locations of products. In particular, the dimension of the characteristics space must be larger than or equal to the number of products minus one. We then identify a method for casting a given demand system (subject to certain restrictions) into our characteristics framework. This is illustrated for the logit, probit and linear probability models of discrete choice theory. Finally, we find a characteristics representation of the CES representative consumer.