Logit discrete choice model: a new distribution-free justification
نویسندگان
چکیده
منابع مشابه
Logit discrete choice model: a new distribution-free justification
According to decision making theory, if we know the user’s utility Ui = U(si) of all possible alternatives si, then we can uniquely predict the user’s preferences. In practice, we often only know approximate values Vi ≈ Ui of the user’s utilities. Based on these approximate values, we can only make probabilistic predictions of the user’s preferences. It is empirically known that in many real-li...
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We consider a stylized dynamic pricing model in which a monopolist prices a product to a sequence of customers, who independently make purchasing decisions based on the price offered according to a logit choice model. The parameters of the logit model are unknown to the seller, whose objective is to determine a pricing policy that minimizes the regret, which is the expected difference between t...
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The multinomial logit model (MNL) has for many years provided the fundamental platform for the analysis of discrete choice. The basic model’s several shortcomings, most notably its inherent assumption of independence from irrelevant alternatives (IIA) have motivated researchers to develop a variety of alternative formulations. The mixed logit model stands as one of the most significant of these...
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ژورنال
عنوان ژورنال: Soft Computing
سال: 2008
ISSN: 1432-7643,1433-7479
DOI: 10.1007/s00500-008-0306-z