2015 Fiscal Year Final Research Report
A microeconomic foundation for discrete choice models
| Project/Area Number |
26590037
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| Research Category |
Grant-in-Aid for Challenging Exploratory Research
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| Allocation Type | Multi-year Fund |
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| Research Field |
Economic policy
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| Research Institution | National Graduate Institute for Policy Studies |
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Principal Investigator |
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| Project Period (FY) |
2014-04-01 – 2016-03-31
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| Keywords | 離散選択 / ロジット / ミクストロジット / GEV / 効用最大化 / ミクロ経済学 / 弾力性 / 余剰 |
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| Outline of Final Research Achievements |
In discrete choice models, such as the logit model, a consumer is assumed to select only one alternative from, for example, “brand A’s soft drink,” “brand B’s soft drink,” and “no purchase.” However, this model provides no explanation as to why a consumer selects only one alternative. Another important point is that the choice of other goods, for example, potato chips, are disregarded, although the purchase of soft drinks and potato chips may be correlated in reality. This research provides a micro foundation for discrete choice models that are free from such limitations using a standard framework of microeconomics, and successfully develops a model in which a consumer can select multiple units of multiple brands in a manner fully consistent with discrete choice models.
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| Free Research Field |
応用ミクロ経済学
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