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• W2182546070 abstract "We develop sufficient conditions to set up an economic choice model over discrete alternatives in the context of random utility maximization, accounting for unobserved taste heterogeneity. Choice probabilities are derived as the walrasian demand functions of a representative indirect utility function we propose. The theorem is an extension of the pioneering theorems of Williams(1977), Daly-Zachary(1978) and McFadden(1978) and is accounting for recent developments in discrete choice modeling (McFadden(2000), Train(2003)) by considering taste unobserved heterogeneity. It is offering a wide range of applications with flexible unobservable substitution patterns arising from stochastic tastes of consumer. JEL : C35, D12" @default.
• W2182546070 created "2016-06-24" @default.
• W2182546070 creator A5010388803 @default.
• W2182546070 date "2003-01-01" @default.
• W2182546070 modified "2023-09-30" @default.
• W2182546070 title "A Representative Random Utility Function for Economic Discrete Choice Models in the Presence of Taste Unobserved Heterogeneity" @default.
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