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Generalized entropy models

Abstract

We formulate a family of direct utility functions for the consumption of a differentiated good. This family is based on a generalization of the Shan-non entropy. It includes dual representations of all additive random utility discrete choice models, as well as models in which goods are complements. Demand models for market shares can be estimated by plain regression, enabling the use of instrumental variables. Models for microdata can be estimated by maximum likelihood.
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Dates and versions

hal-01291347 , version 1 (21-03-2016)
hal-01291347 , version 2 (25-03-2016)

Identifiers

  • HAL Id : hal-01291347 , version 1

Cite

Mogens Fosgerau, André de Palma. Generalized entropy models. 2016. ⟨hal-01291347v1⟩
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